Miami-Based JV Sells 190-Unit Build-To Rent Townhome Development Site in Tampa MSA for $18 Million
Blue Pointe Builders, a partnership between Alpha Development Group, led by Eduardo Avila, and Avanti Way Group, led by Andres Korda and Enrique Teran announced the sale of GroveParc Townhomes, a 48.08-acre build-to-rent, 190-unit townhome development site in Wesley Chapel in the Tampa MSA to Atlanta-based ResiBuilt. READ THE ARTICLE IN REAL ESTATE WEEKLY.
“ParcGrove Townhomes exemplifies the quality and forward-thinking approach of Blue Pointe Builders,” stated Andres Korda, co-founder and principal of Blue Pointe Builders and Avanti Way Group. “Our vision was to elevate the Wesley Chapel community with a modern, Class A townhome development, and we fully intended this to be a for sale project. However, given the market demand, ResiBuilt recognized the rare opportunity to not only own the land, but a shovel-ready, fully entitled project with all approvals and infrastructure in place. We transformed this into a built-to-rent opportunity which will continue to contribute to this sought after community, and we congratulate the new owners on this spectacular addition to their portfolio.”
GroveParc Townhomes comprises three- and four-bedroom townhomes. Situated in the heart of Wesley Chapel, amenities include a clubhouse, resort-style pool, fitness center, playground, dog park, , lakeside trail and pedestrian access to the adjacent Grove at Wesley Chapel, an open-air shopping center with a plethora of retail and dining options.
GroveParc Townhomes is located in close proximity to I-75 allowing for quick access to Downtown Tampa, the Westshore Business and Entertainment district, and Tampa International Airport. Wesley Chapel has experienced tremendous population and economic growth over the last decade. It is anchored by top-rated schools and high-paying jobs across multiple industries.
Avanti Way Capital is an affiliate of Avanti Way Group a vertically integrated conglomerate composed of investments, property management, asset management, and brokerage services. As a fully integrated firm, Avanti Way Group’s affiliate entities: Avanti Way Capital, Propfolio Management, Folio Title and Avanti Way Realty, combined with its award-winning, proprietary technology platforms, work together to provide unparalleled, tech-enabled real estate solutions for its clients.
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