Camden Property Trust paid $18.25 million for a Tampa development site in the Palm River area without disclosing what it plans to build there.
The Houston-based apartment developer acquired a roughly 9.7-acre vacant parcel, eight vacant townhome lots and additional property within Mission Village Phase One, near Estuary Lakes Drive, Sombra Street and Augustin Villa Place. The company has not disclosed the project’s size or construction timeline.
The purchase adds to a string of Tampa Bay investments by Camden this year. The company bought 64.4 acres in Tampa for $26 million in May and a 296-unit Brandon apartment community for $82.1 million in July. Camden also has a 765-unit, $242 million apartment development planned in Tampa.
Camden owned nine Tampa Bay apartment communities with 3,464 units as of June 30. Nationwide, the S&P 500 company is one of the country’s largest publicly traded apartment owners.