U.S. investment manager Nuveen LLC, a subsidiary of insurance company Teachers Insurance and Annuity Association of America, has infused $61.9 million to purchase the 5 West Apartments in Rocky Point area, Tampa, Florida.
Nuveen acquired the 318-unit apartment complex from U.S. multifamily communities manager and developer Pollack Shores Real Estate Group.
The property is situated immediately adjacent to the Westshore Business District and the Tampa International Airport, providing connectivity to jobs, retail and entertainment centers.
In August last year, Nuveen acquired the 326-unit Fusion 1560 building in St. Petersburg, for $81.1 million.