Berkadia, as exclusive advisor, is pleased to present the opportunity to acquire Village at Terra Bella (the “Property” or “Terra Bella”), a 311-unit, institutional-quality apartment community in the rapidly expanding Central Pasco submarket of the Tampa Bay MSA. With in-place rents at a meaningful discount to newer competitors, Terra Bella offers a clear opportunity to grow revenue through a targeted value-add program, re-setting its 2016-vintage interiors to compete with newer, top-of-market product as the market re-stabilizes. 

Terra Bella is strategically positioned along the State Road 54 corridor, blending suburban living with direct access to the region’s fastest-growing healthcare drivers including Moffitt’s Speros FL, AdventHealth Wesley Chapel, BayCare, Orlando Health Wiregrass Ranch, and Johns Hopkins All Children’s. Demand is further reinforced by nearby retail (Tampa Premium Outlets, The Shops at Wiregrass & Cypress Creek Town Center) and dual-highway access via the Suncoast Parkway and I-75 providing convenient access to the entire Tampa MSA. 

Terra Bella’s Central Pasco location places it inside one of Florida’s fastest-growing counties, which boasts the strongest T12 apartment absorption of any submarket in the Tampa region and among the highest in the state. Combined with new construction slowing sharply, multifamily permitting down materially year over year, a thinning near-term delivery pipeline heading into 2027, affluent area demographics and a for-sale market that keeps the target renter priced out of ownership, Terra Bella is positioned to capture outsized rent growth and continued, durable occupancy.