Somerset Bay (Spring Hill, FL)
Bay Dr, Spring Hill, FL 34608, USA, Spring Hill, FL, 34608, US
144 units
Attributes
Number of units
940
Year built
2002
Occupancy
97%
Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the Tampa LIHTC Portfolio consisting of 940 units across 3 properties, all well-located within the Tampa MSA. The Portfolio offers stable bond-like cash flow with outsized revenue growth potential. Portfolio occupancy stands at 98% with pre-leasing at 99%, and the average spread between 2025 max LIHTC rents and surrounding market-rate rents exceeds $850 / +65%. 2025 max LIHTC growth was 10% when accounting for the HUD ceiling, leaving an additional 10.5% in unrealized max rent growth to be realized in future years. Tampa's robust demographics, continued economic expansion, and outsized demand for quality affordable housing position the portfolio for exceptional long-term performance with attractive risk-adjusted returns.
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Investment Highlights
- Attractive Revenue Outlook Given Unrealized Rent Growth Due to Ceiling
- Substantial Rent Advantage Ensures Stable Operations
- Stable, Bond-Like Cash Flow
- Severe Lack of Affordable Housing in Tampa MSA
Media
Tampa LIHTC Portfolio (3 Properties)
Tampa LIHTC Portfolio (3 Properties)
Contact brokers
JLL can help you finance and manage your portfolio. Email us today to see how we can help achieve your ambitions.
Last updated
4 Aug 2025