May 9, 2016 | Press Release
HQ Capital Real Estate and Pollack Shores Real Estate Group Close on 288-unit Multifamily Development in Tampa, Florida
New York, NY, April 30, 2016 – New York City-based HQ Capital Real Estate (“HQCRE”), a member of HQ Capital, has formed a joint venture with Pollack Shores Real Estate Group (“Pollack Shores”) of Atlanta, GA to develop M South, a 288-unit multifamily project on South Manhattan Avenue in Tampa, FL. The M South site is strategically located close to West Gandy Boulevard, the primary retail corridor in South Tampa, and is within short driving distance to multiple employment centers, such as Downtown Tampa, the Westshore Business District, MacDill Air Force Base, and the Gateway Office Market in Saint Petersburg.
The three-story, surface parked property will feature Class A unit finishes such as nine-foot ceilings, granite/quartz countertops, gourmet kitchens with stainless steel appliances and in-unit washer/dryers. Community amenities will include a modern pool with gas barbecue grills, a lounge area with a full-service kitchen and billiards, a fitness club, and a computer café.
This is HQCRE’s first investment with Pollack Shores. Pollack Shores has recently built a project with the same unit specifications and layout in Orlando, and M South will be their sixth multifamily development in Tampa.
About Pollack Shores Real Estate Group: Pollack Shores was founded in 2006 by Marc Pollack and Steven Shores. Since inception, the firm has developed or acquired 13,000 units across the Southeast and Southwest, representing over $1.3 billion of total capitalization. In 2015, the National Association of Home Builders selected Pollack Shores as the Multifamily Development Firm of the Year. A vertically integrated group, they employ 327 people as of January 2016. Pollack Shores has partnered with several institutional investment groups in recent years including Goldman Sachs, The Carlyle Group, and Lubert-Adler. Additional information is available at www.pollackshores.com.