John Isakson - Ark Homes For Rent Acquires Oak Haven Multifamily For $31.8M

Oak Haven, a 120-unit townhouse community located at 11890 Mountain Retreat Lane in Riverview, was sold for $31.8 million. The property was completed in 2022 and was purchased by Ark Homes for Rent from D.R. Horton, with financing provided by Prudential Insurance Co. of America.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $31,800,000
• Buyer: John Isakson - Ark Homes for Rent
• Seller: Paul J. Romanowski - D.R. Horton
• Lender: Prudential Insurance Co. of America
• Units: 120
• Price Per Unit: $265,000
• Market: Riverview
• Address: 11890 Mountain Retreat Lane

The sale of Oak Haven underscores the growing demand for built-to-rent communities in the Tampa Bay region. Between 2018 and 2023, the number of such properties doubled, reflecting a shift in housing preferences towards rental communities.