Acquisition Leverages Deep Market Knowledge and Targets Value Enhancement in Prime Westshore Location
Tampa, FL – April 29, 2025 – Momentum Real Estate Partners, LLC (“Momentum”) today announced the strategic acquisition of Amelia at Westshore, a 246-unit, Class A multifamily community located at 6608 S West Shore Blvd as part of its Momentum Real Estate Fund IV, LLC portfolio. The property, formerly known as Jefferson Westshore, offered Momentum a unique opportunity to acquire a property that was owned by a previous Fund and sold in 2021. Built in 2013, the property’s prime location in Tampa’s coveted Westshore submarket, coupled with Momentum’s prior ownership experience, positions this acquisition as a key addition to the firm’s portfolio.
Mauricio Gruener, Co-President and Co-CEO of Momentum, shared his perspective: “Acquiring Amelia at Westshore represents a unique strategic opportunity for Momentum. Tampa’s Westshore submarket is one of the most dynamic and resilient in Florida, driven by exceptional job growth and significant infrastructure investment. Our familiarity with this high-quality asset allows us to hit the ground running with targeted value enhancements.”
Having previously owned the property within Fund II, Momentum possesses deep operational insights. The acquisition was secured through a limited marketing process. The previous owner’s capital expenditures, provide a solid foundation for further improvements.
Eduardo Gruener, Co-President and Co-CEO of Momentum, noted the market advantages: “Amelia at Westshore is perfectly positioned within a supply-constrained submarket experiencing tremendous economic activity. The combination of proximity to major employers, ongoing large-scale developments like the Westshore Marina District and Water Street expansion—totaling over $12 billion nearby—and limited new supply creates a compelling investment case.”
Amelia at Westshore offers 246 modern apartment homes. Momentum plans to implement a strategic capital improvement program focused on enhancing unit interiors and common areas. This program aims to solidify the property’s position as a top choice in the submarket.
The property is ideally situated near major employment hubs including the Westshore Business District, the Gateway Office Market, downtown Tampa, downtown St. Petersburg, and MacDill Air Force Base. Tampa boasts a robust economy, ranked as the #2 U.S. city for job seekers in 2024, with a low 3.1% unemployment rate¹ and significant population growth (over 20% since 2010). The Westshore submarket benefits from high average household incomes ($122,700)² and significant barriers to entry for new construction due to limited land availability.
This acquisition marks another step in Momentum’s strategy of investing in high-quality multifamily assets in growing markets.
¹ Source: Federal Reserve Economic Data (FRED), Series TAMP312URN (accessed May 2025). (Note: The 3.1% figure cited was present in the initial data provided; the most recent FRED TAMP312URN data may show slight variations based on monthly updates. Ensure 3.1% reflects the appropriate reporting period intended.) ² Source: Momentum Real Estate Partners internal resident demographic analysis.
About Momentum Real Estate Partners, LLC Based in Miami, Florida, Momentum Real Estate Partners, LLC has made a significant mark over the past decade in the real estate industry, with transaction volume across major U.S. markets amassing a total of $1.71 billion in property value. Since its founding, the company has acquired 22 projects, totaling 5,619 residential units spread across 15 dynamic cities. Delve into their story at momentumrep.com.
Disclaimer: INVESTING CARRIES SIGNIFICANT RISKS. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS STATEMENT IS NEITHER AN OFFER TO BUY OR SELL SECURITIES NOR A RECOMMENDATION. KINDLY REFER TO OUR PRIVATE PLACEMENT MEMORANDUM FOR ESSENTIAL INFORMATION AND DISCLOSURES.
