“This transaction leverages our experience and depth of relationships in the multifamily sector and illustrates our strategic goals to acquire and improve workforce housing in select metro areas,” says Cameron Jones, head of real estate equity acquisitions for Aegon RA. “The Park at Via Rosa is located in Hillsborough County, part of the vibrant Tampa metro area. Our capital improvements will refresh the property and preserve its appeal to the local community.”

Aegon RA provides yield-oriented private debt and equity strategies and specialty solutions backed by a full range of in-house support services. Aegon RA manages and advises more than $19 billion in real assets. Aegon RA US has offices in San Francisco and Irvine, CA; Chicago; Cedar Rapids, IA; Baltimore and New York City.

Cushman & Wakefield reports the new owners are expected to perform some capital improvements including upgrading units with new appliances, gray wood-plank flooring, new laminate countertops, tiled backsplashes and premium cabinet hardware.

Community amenities at the Park at Via Rosa include a clubhouse with a state-of-the art fitness center, business center with high-speed internet and WiFi, TV lounge and tanning salon; lake access; a pet play area; a barbecue area; a car care area; gated access; a playground; a pool and spa; tropical landscaping; a volleyball court and a tennis court.

“Brandon has witnessed unprecedented growth in recent years, which has fostered strong fundamentals in the local multifamily market,” says C&W's Elorza. “The Park at Via Rosa represents an excellent value-add opportunity given the asset's position within the market and new ownership's planned capital improvements.”