A joint venture of PCCP and Balcara Group has announced the development of Balcara at Southshore Bay, a 196-unit single-family for-rent community located at 17160 Auburn Arch Loop in Wimauma, Florida (Hillsborough County, Tampa MSA).
The Class A project will consist of single-family, two-story, attached townhomes and will include 52 two-bedroom/two and a half-bathroom units each totaling 1,372 square feet (sf); 72 three-bedroom/two and a half-bathroom units (1,534 sf); 36 three-bedroom/two and a half-bathroom units (1,654 sf); and 36 four-bedroom/two and a half-bathroom units (1,663 sf). The interiors will include luxury ceramic tile first-floor flooring, 9’ ceiling heights, luxury vinyl plank on the stairs and second floor excluding bathrooms, stainless appliances, quartz countertops, tiled shower walls, full subway tile kitchen walls, screen windows, screened lanais, and 4’ aluminum fenced backyards. The two largest floorplans will include two-car garages while the others will include one-car garages. On-site amenities will feature a Balcara Lodge, an approximately 2,900-sf building with leasing center, gym and social rooms; a dog park; playground; pool and pool cabana.
“PCCP is pleased to partner with an experienced build-for-rent developer on a Class A residential community that is situated in a path of growth within the Tampa region,” said Andrew Barbakoff, Senior Vice President with PCCP. “We believe the diversification of units will attract a variety of renter types and the location of the project adjacent to major arterial roads will permit residents to easily commute to Tampa, St. Petersburg and Bradenton employment centers.”
Balcara at Southshore Bay is five miles east of Interstate 75 – the major north/south thoroughfare on Florida’s west coast and is an approximately 30-minute drive from downtown Tampa, a 45-minute drive to St. Petersburg and a 40-minute drive to Bradenton. Hillsborough County’s long-range forecast established by the county’s Planning Commission anticipates that by 2050 Wimauma’s population will grow by 139%.
PCCP is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has $24.9 billion in assets under management on behalf of institutional investors as of September 30, 2024. With offices in New York, San Francisco, Atlanta, and Los Angeles, PCCP has a 26-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has managed, raised or invested over $42.2 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures.
