Make us your home page
Instagram

State pension fund buys new Tampa apartment complex

TAMPA — Florida's public pension fund this month invested big in the Channel District's newest apartment complex, buying the newly built Pierhouse at Channelside for $76.5 million, property records show.

The four-story, four-building complex at 120 S Meridian Ave. features 356 apartments, which rent for $1,200 to $2,400 a month.

Pierhouse's Miami-based developers, the Related Group, bought the 6 acres of developable land in 2010 for $6.5 million and began moving residents in late last year.

The pension fund, the State Board of Administration, manages $177 billion in investments, including more than $10 billion in real estate. It stands to profit off returns from the apartments' monthly rents.

State pension fund buys new Tampa apartment complex 02/18/14 [Last modified: Saturday, February 22, 2014 11:25pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Port Tampa Bay secures $9 million grant to deepen Big Bend Channel

    Business

    Port Tampa Bay has secured a $9 million grant from the U.S. Army Corps of Engineers for the widening and deepening of the Big Bend Channel in southern Hillsborough County.

  2. Tampa International Airport morphing into a mini-city unto itself

    Airlines

    TAMPA — By the end of the 2026, Joe Lopano wants Tampa International Airport to function as its own little city.

    Artist rendering of phase two of the $1 billion construction expansion of Tampa International Airport. The airport is transforming 17 acres of airport property that will include at least one hotel, retail and office space and a gas station, among other things.
[Courtesy of Tampa International Airport]
  3. Lost Highway: As FHP struggles to recruit, speeding tickets plummet

    State Roundup

    TALLAHASSEE — The number of speeding tickets written by Florida state troopers has plunged three straight years as the agency grapples with a personnel shortage and high turnover.

    State data shows FHP troopers are not writing violations for speeding or other infractions like they did back in 2011, even though there's 1 million more licensed drivers in Florida.
  4. Kidpreneurs — and adults — capitalize on gooey, squishy Slime craze

    Retail

    Aletheia Venator and Berlyn Perdomo demonstrate the stretchiness of their slime. - Berlyn Perdomo and her friend, Aletheia Venator, both 13, make and sell slime which can be seen on their instagram site @the.real.slimeshadyy [JIM DAMASKE   |   Times]
  5. The last farmer of Florida's prized Zellwood corn is thinking of packing it in

    Consumer

    MOUNT DORA — Hank Scott steps out of his pickup between the long rows and snaps off an ear that grows about bellybutton-high on the forehead-high stalks.

    Hank Scott, co-owner of Long and Scott Farms, shucks an ear of corn on the farm in Mount Dora, Fla., on Wednesday, May 10, 2017. The farm specializes in Scott's Zellwood Triple-Sweet Gourmet Corn. LOREN ELLIOTT   |   Times