StoneBridge Investments has expanded its presence in Florida with the acquisition of Luxe at 1820, a 300-unit garden-style apartment community in the Tampa region.
The Washington, D.C. based multifamily firm completed the purchase on December 10 and says the property fits directly into its long-term strategy of investing in high-growth markets with strong renter demand.
A location with strong fundamentals
Luxe at 1820 sits on Crosstown Club Place in Brandon, eight miles east of downtown Tampa.
StoneBridge says the location gives residents direct access to major employment corridors, strong retail centers, top schools and a growing regional transportation network.
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The firm called the Tampa metro one of the most dynamic and fastest-growing regions in the country and highlighted the region’s population strength, which continues to drive housing demand.
Why StoneBridge wanted this asset
“We are extremely bullish on Tampa and the broader Florida growth story,” said Kees Bruggen, Managing Director at StoneBridge Investments.
He said the region has shown resilience and economic competitiveness, and believes Tampa is positioned to outperform as new supply moderates and demand stays steady.
Built in 2009, Luxe at 1820 offers a mix of floor plans and amenities that StoneBridge sees as a strong foundation for value creation.
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The firm plans a full renovation program that will modernize unit interiors, refresh amenities and upgrade curb appeal.
“Luxe at 1820 is a great example of what we are looking for,” said Will Bateman, Director at StoneBridge. “By modernizing the interiors and enhancing the community, we believe we can elevate its standing in the submarket.”
A growing push into Florida
The acquisition strengthens StoneBridge’s presence in one of its priority markets. The firm continues to pursue value-add and core-plus assets in high-growth metros across the Mid-Atlantic and Southeast, supported by strong demographics and pro-business environments.
Brian Moulder and Chris Chadbourne of Walker & Dunlop represented the seller, American Landmark. Financing was secured by Connor Locke, Brenden Coleman and Skye Stansbury, also of Walker & Dunlop.
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StoneBridge, backed by Amsterdam-based Timeless Investments, has invested more than $1.7 billion in U.S. multifamily communities and focuses on improving assets through thoughtful renovations, operational upgrades and long-term value strategies while elevating the resident experience.