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This property’s attractive purchase price, intrinsic value and affordability aligned with IMG’s nationally acclaimed IPA™ acquisition strategy. After capitalizing on our business plan during a five-year hold period, the sale represented another example of IMG delivering returns to clients that exceeded original projections. Due to the strong rental demand, strategic property improvements, and focused management, property income increased by 59% over five years.Īfter two years of ownership, IMG directed a refinance event generating $2.9M in proceeds or 21% of original investor capital. With major employers like MacDill Air Force Base minutes away, the community consistently delivered high occupancy and rent growth. IMG identified this South Tampa submarket as having intrinsic qualities that could draw in-migration and diversified job growth. IMG successfully executed a $3M 'value-add' business plan to renovate the property and improve operations. The $4B Water Street Tampa redevelopment taking place a few miles from the property underscores the growth and desirability of the area. The property occupies a prime location just half a mile from Bayshore Boulevard, known for its waterfront promenade and million-dollar estates. Constructed in 1988 as a low-density community on 22 acres, IMG acquired Solis with a vision to reposition the unique property within a high-demand Tampa submarket.
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