This marks the firm’s first residential purchase in growing South Hillsborough County
TAMPA (February 20, 2012) – Florida-based real estate investment management firm Grover Corlew has announced the acquisition of Summer Palms, a 340-unit apartment complex in Riverview.
Located at 10220 Summer Palm Drive, Summer Palms is adjacent to the future home of St. Joseph’s Hospital South, which is scheduled to start construction later this year and will create more than 500 jobs.
“Location is a key factor to our success and Summer Palms is centrally located on the highly traveled Big Bend Road,” said Partner Mark Corlew. “This is a high growth area with new development activities underway from healthcare facilities and employment centers to restaurant, entertainment and retail offerings. Close proximity to these properties will increase our occupancy rates.”
Summer Palms is an 18 building gated community situated on 23.72 acres. Amenities include picnic areas, a lake, playgrounds, a fitness center, pool, clubhouse and business center. Well-appointed and spacious one, two, three and four-bedroom apartments averaging 1,142 sq. ft. are available.
Later this year, the real estate investment management group, which is focused on acquiring, developing and operating office, retail and multi-family properties across the Southeast U.S., plans to renovate and rebrand Summer Palms which was originally built in 2001.
# # #
About Grover Corlew
Led by experienced real estate veterans who have worked together since 2002 and who have more than 40 years of combined industry experience, Grover Corlew is a real estate investment management group focused on acquiring, developing and operating office, retail and multi-family properties across the Southeast U.S. Grover Corlew has offices in South Florida, Orlando and Atlanta and provides in-house asset management and property management services. The company is also an active developer with in-house development expertise as well as strategic relationships with tenants and local developers throughout the Southeast U.S.