IMG tampa ballast point investment neil schimmel CEO

The Pavillions At Ballast Point is a 276-unit garden-style apartment community in South Tampa, a submarket boasting “some of the strongest demographics in the metro”CoStar, May 2018 

The 19 buildings were constructed as a low density development on 21.5 acres in 1988 to preserve the mature trees throughout the property, making this a unique multifamily property in today’s fast-developing Tampa market.
 
pool tampa ballast point website IMG“We’ve been active in the Southeast for nearly 20 years. South Tampa is highly desirable from an investment perspective, based on forecasted net in-migration and job growth in high-skill, high-wage fields,” according to Neil Schimmel, IMG’s President and CEO. “The $3B Water Street Tampa plan already underway just 6.5 miles from The Pavillions demonstrates the momentum of energy in the city and Tampa’s commitment to development and infrastructure.”
 
The Company intends to execute a capital improvements plan to meet the expectations of the Ballast Point renter demographic.

Investment Highlights

NEARBY DEVELOPMENT

Tampa’s waterfront (7.2 miles from The Pavillions) is about to be transformed with a $3B Water Street Tampa plan already underway. Roughly 9 million sq.ft. of Water Street’s total development area is slated for completion by 2021 and will be the first WELL-Certified district in the world.

SOUTH TAMPA LIFESTYLE

These 276 units sit in an “A” submarket among luxury million-dollar estates and less than a mile from the famous Bayshore Blvd, one of the most famous streets in Tampa with the longest waterfront sidewalk in the state.

NET IN-MIGRATION

Tampa Bay saw a nearly 10% population increase between 2010-2017. Projected growth through 2022: 7.68% (to reach 1.5M in population).

HILLSBOROUGH COUNTY JOB GROWTH

Tampa Bay is home to 19 corporate HQ with $1B+ in annual revenue, eight of
which are Fortune 1000 companies. Nearly 50,000 jobs are currently open in high-skill, highwage fields. Hillsborough County leads Florida in average wage gains over last 10 years

ballast point IMG investment tampa WEB


For more information about IMG’s future multifamily real estate investment opportunities, contact Karlin Conklin at (971) 888-4010 ext. 104.