Venterra Realty has purchased Avasa Grove West, a 330-unit garden-style multifamily community in Wesley Chapel, Fla. The previous owner was D.R. Horton, according to Yardi Matrix data, and the property traded for $95 million with help from a seven-year, Freddie Mac loan originated by PNC Bank.
Completed earlier this year at 27791 Dream Falls Drive, the community includes nine three-story buildings with one-, two- and three-bedroom floorplans, ranging between 782 and 1,563 square feet. All apartments have washers and dryers, digital locks, quartz countertops and walk-in closets.
Common-area amenities include a fitness center, clubhouse, swimming pool with poolside grills, yoga studio, dog park and pet spa, as well as electric vehicles charging stations. The community also has roughly 500 parking spaces.
The 34.6-acre property is close to dining and entertainment options, with large retail destinations such as The Grove at Wesley Chapel and Krate within walking distance. Epperson Lagoon water park is 6.6 miles north, while downtown Tampa, Fla., is some 23 miles southwest.
Venterra Realty expands in the Sun Belt
Avasa Grove West marks Venterra’s third property in the Tampa area, Yardi Matrix shows. The 312-unit Valencia at Westchase and the 72-unit Citrus Run had entered the firm’s portfolio in 2015 and 2018, respectively.
Venterra currently owns and manages more than 23,000 units across the U.S., with most assets located in the Sun Belt. Earlier this year, the firm purchased a 361-unit multifamily community in Houston with the help of a $45 million loan from PNC Bank.
