Providence Real Estate Acquires The Preserve at Tampa Palms
Providence Real Estate Logo
Providence acquires a 378-unit multifamily community in Tampa Palms, one of Tampa's premier master-planned residential communities.
CHICAGO, IL, UNITED STATES, June 5, 2026 /EINPresswire.com/ -- Providence Real Estate, LLC (“Providence”), a multifamily owner-operator, announced the acquisition of The Preserve at Tampa Palms (“The Preserve”), a 378-unit multifamily community located in the highly desirable New Tampa submarket of Tampa, Florida.
Built in 2002, The Preserve consists of 19 residential buildings situated across approximately 44 acres within the Tampa Palms master-planned community. The property features spacious one-, two-, and three-bedroom apartment homes averaging approximately 1,146 square feet, along with an extensive amenity package featuring a resort-style swimming pool, fitness center, clubhouse, tennis and pickleball courts, attached and detached garages, and scenic preservation wetland views.
The property is strategically located near Interstate 75 and Bruce B. Downs Boulevard, providing convenient access to many of Tampa’s major employment, educational, and healthcare centers, including the Highwoods Preserve Corporate Campus, USAA, Moffitt Cancer Center, AdventHealth, and the University of South Florida.
Providence intends to implement its proven value-add program at the property, leveraging more than 40 years of multifamily ownership and operating experience. Providence’s value-add strategy combines targeted capital improvements with disciplined capital deployment and intensive asset management focused on enhancing the resident experience while maximizing long-term asset value and investment performance.
Providence CEO Alan Pollack stated, “While Sunbelt multifamily markets have experienced temporary pressure from one of the largest apartment supply waves in recent history, we believe the market is much closer to the end of this supply cycle than the beginning. As new supply moderates over time, markets with strong long-term demographic and employment fundamentals such as Tampa are well positioned for improving operating conditions and the potential for stronger rent growth.”
Providence President Kevin Finkel added, “This is a tremendous opportunity for Providence, as we not only have extensive holdings and operating experience throughout Tampa, but also significant experience within the Tampa Palms submarket itself. Tampa Palms has long been recognized as one of Tampa’s premier master-planned communities, offering residents highly rated schools, strong connectivity to major employment centers, and an exceptional blend of lifestyle, recreational, and community amenities.”
ABOUT PROVIDENCE REAL ESTATE, LLC
Providence and its affiliates have been active owner-operators of multifamily residential communities since 1985. Providence consists of an experienced group of professionals dedicated to searching for, identifying, acquiring, renovating, and operating multifamily properties in select U.S. markets. Providence is a fully integrated real estate organization with property, asset, and construction management, as well as acquisitions, accounting, information technology, and human resource divisions.
Providence Real Estate
Karen Phillips
+1 847-904-2008
email us here
Visit us on social media:
LinkedIn
Facebook
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
