Preserve at Zephyr Ridge, Florida

Balfour Beatty Communities completed its first expansion into the fast-growing Tampa submarket of Zephyrhills with the purchase of Preserve at Zephyr Ridge. The acquisition, completed in 2018, was a joint venture with Apex One Investment Partners.

$31 million

Total debt and equity funding

The Preserve at Zephyr Ridge residential community includes 13 buildings and spans more than 12 acres with a variety of retail, entertainment and restaurant options that are easily accessible in the Zephyrhills area, in addition to major healthcare providers including the Florida hospital system.

The property is comprised of 208-units in a variety of one-, two- and three-bedroom floor plans averaging 1,023 square feet. Apartment features that are offered include large walk-in closets, modern fixtures, master suites and fully-equipped kitchens.

Several community amenities including a sparkling pool with outdoor kitchen and screened-in lanai, playground, fitness center and clubhouse with business center.

Since acquisition, the property has undergone a variety of value-add projects to date including an updated pool area, installation of a new dog park and refreshed community signage. Select interiors renovations were also completed to include new flooring, cabinetry, light fixtures and stainless-steel appliances.