Cresset Partners Announces Joint Venture to Develop 390-unit Mid-Rise Apartment Building in Tampa

Cresset Partners
The project is the latest development in Chicago-based Cresset’s second Qualified Opportunity Zone fund, Cresset Diversified QOZ Fund II.

Cresset Real Estate Partners has announced the formation of a joint venture with KETTLER and Daryl Shaw to develop a 390-unit mid-rise apartment building in Tampa, Florida.

Developed in partnership with KETTLER, a Washington D.C.-based developer, and Darryl Shaw, one of the largest private landowners in Tampa, the team includes Juneau Construction Company as the general contractor. The debt for the project was provided by the Canadian Imperial Bank of Commerce and Trustmark.

The project will include luxury units in a seven-story building, totaling over 273,000 square feet of rentable area, with an additional 9,700 square feet of ground-floor commercial space. The building is part of the larger 33-acre Gasworx mixed-use development, consisting of 5.9 million square feet of commercial and residential real estate across 18 projects and is expected to be developed over the next ten years.

Cresset Partners was founded and continues to act upon the belief that the greatest opportunities to deliver diversified returns are found in private markets. Today, we make exclusive private market opportunities available to our investors with the goal of generating diversified alpha. Our investors rely on our industry knowledge, large professional network, and ability to access compelling opportunities across private equity, real estate, and private credit that are poised to drive outsized returns.

KETTLER is an award-winning multifamily developer, real estate investor, land development, and property management company. With over 45 years of providing superior capabilities across the development lifecycle; zoning/entitlement, predevelopment, leasing, and operations, KETTLER reimagines the communities it creates and serves. ​