“Bay Oaks is an outstanding value-add investment opportunity as well as a prime candidate for future redevelopment,” says C&W's Elorza. “It's unique waterfront location is a short drive to Hyde Park Village, the Westshore office market, Tampa International Airport and downtown Tampa. Bayshore Boulevard in central South Tampa is one of the most highly sought-after locations on the West Coast of Florida for both residents and investors.”

Lentz adds, “Working with exceptional firms such as Related and Barings on the financing allowed for an efficient placement process, with agency financing providing the optimal capital source. We look forward to future transactions with both firms.”

Units at Bay Oaks offer a private balcony/patio, wood-style flooring, premium appliances, air conditioning and walk-in closets. Select units have waterfront views of Hillsborough Bay. The community features 24-hour fitness center, resort-inspired swimming pool, community grilling stations, a luxurious clubhouse, on-site management, a car care center and laundry facilities.