Sale of Circa at FishHawk Ranch in Lithia, Florida, closed by HFF
TAMPA, FL – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Circa at FishHawk Ranch, a 260-unit, Class A garden-style multi-housing community located in Lithia, Florida.
HFF marketed the offering exclusively on behalf of the developer, a joint venture between North America Sekisui House, LLC (NASH) and Newland Communities. Inland Real Estate Acquisitions, Inc. facilitated the purchase of Circa at FishHawk Ranch for an Inland-related party.
Circa at FishHawk Ranch is located at 5881 Spector Road within the 4,100-acre FishHawk Ranch master planned community, which is approximately 20 miles southeast of downtown Tampa. Positioned in the heart of the community’s Village Center – which is currently under development and once complete will feature retail, dining and medical office space – Circa at FishHawk Ranch is walkable to top-rated schools and the Florida headquarters of Mosaic (NYSE: MOS). Completed in November 2015, the property has one-, two- and three-bedroom units averaging 1,045 square feet each. The amenity-rich community features a resort-style swimming pool with sundeck and cabanas; outdoor pavilion and kitchen with bar, grills, screened-in party room with billiards, ping pong and shuffleboard; state-of-the-art fitness center with cardio/weight room, spin studio, yoga area and children’s playroom; clubroom with flat screen televisions; internet café and social lounge with coffee station; conference room; pet spa facility; condo-quality interior finishes; and attached/detached garage parking.
The HFF investment sales team was led by managing director Matt Mitchell, executive managing director Matthew Lawton and associate director Zach Nolan.
“Suburbs like FishHawk Ranch have been particularly starved for new supply so properties like Circa are filling a void in the market for people who want to enjoy a high-quality, suburban lifestyle, but don’t need or want to own a 3,000-square-foot house,” said Mitchell. “In Tampa, these types of assets are attractive to investors because of strong fundamentals, job growth, an expanding population and a manageable supply pipeline.”
“Working with HFF made this complicated deal easier to purchase,” said Joe Cosenza, president of Inland Real Estate Acquisitions, Inc., and vice chairman of The Inland Real Estate Group, Inc. “This luxury apartment community met our criteria of being newly constructed, ideally located and well occupied, and we will continue to look for similar properties in the new year.”
About North America Sekisui House, LLC
North America Sekisui House, LLC (NASH) was established in 2010 as the U.S. business operations unit and a full subsidiary of Sekisui House, Ltd., Japan's largest homebuilder and a leading diversified developer since 1960. Sekisui House has built more than two million houses to date and expanded its operations to Australia, China, Singapore, and the U.S. NASH establishes joint ventures to build innovative and sustainability conscious master-planned and mixed-use communities across the US. NASH is headquartered in Arlington, Virginia. www.nashcommunities.com and www.sekisuihouse.co.jp/english/index.html.
About Newland Communities
Newland Communities (Newland) is a diversified real estate company leveraging a national platform and over 45 years of experience to perform challenging and diverse development, investment, management, and advisory services across a wide range of real estate. The company’s mixed-use development business, Newland Communities, actively owns, operates and develops premier residential master-planned, commercial, retail, and urban mixed-use real estate across the U.S. Headquartered in San Diego, California, Newland and its affiliated companies have completed, or have underway, more than 140 diverse real estate developments, more than 20 million square feet of commercial and retail space, and 175,000 residential units in 14 states. www.newlandcommunities.com.
About Inland Real Estate Acquisitions, Inc.
Inland Real Estate Acquisitions, Inc. is the purchasing arm for various entities that are a part of The Inland Real Estate Group of Companies, Inc., a group of independent legal entities, some of which may be affiliates, share some common ownership or have been sponsored or managed by Inland Real Estate Investment Corporation or its subsidiaries (collectively, “Inland”). For additional information, please refer to Inland’s website at www.inlandgroup.com.
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.