Eagle Property Capital Acquires Boot Ranch Apartments In Palm Harbor For $89.6M

The Boot Ranch Apartments in Palm Harbor have been purchased by private investment firm EPC Promecap Multifamily Partners V for approximately $89.6 million. This multifamily property consists of 432 units, resulting in a price per unit of around $207,451. The acquisition was supported by a $66.44 million mortgage secured by EPC. The property offers a variety of unit sizes and amenities, and it is strategically located in the robust multifamily market of the Tampa area.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $89,610,000
• Units: 432
• Price per Unit: $207,431
• Buyer: Eagle Property Capital Investments - Rodrigo Conesa; Promecap - Fernando PachecoI
• Lender: Fannie Mae

EPC Promecap Multifamily Partners V, represented by Rodrigo Conesa, and Promecap, represented by Fernando PachecoI, were the buyers of The Boot Ranch Apartments. The property's acquisition underscores EPC's confidence in the Tampa area's thriving multifamily market. By acquiring this asset, EPC aims to capitalize on the opportunities presented by the demand for high-quality rental properties in Palm Harbor.