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April 17, 2019  

Luxury Rentals Teed Up Near Tampa

Investors are getting a crack at a new luxury apartment property in a Tampa suburb.The 300-unit property, in Land O’ Lakes, Fla., is valued at some $63 million, or $210,000/unit. At that price, the stabilized capitalization rate would be about 5.2%. The owner, Epoch Residential of Orlando, has given the listing to Newmark.The property, which opened last May, is still in its initial leasing phase. Investors have been told that about 20 units...

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