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Sola Vista Condominimums
Sola Vista Condominiums is an urban infill project located in Tampa’s Westshore District. These gated, 3 BR, 2 BA, 2-car garage condos were priced to sell quickly and were recognized as the best value in South Tampa as they consisted of 1,650 SF of living space, crown molding, hardwood flooring, and designer bath enclosures with Jacuzzi tubs, stainless appliances, and granite countertops over maple cabinetry throughout. Lucky buyers were able to purchase at prices below builder cost. Read below as to how this occurred.
UNIQUE OPPORTUNITY: When a local banker notified Urban Edge about a distressed real estate opportunity, it set in motion the events that eventually became a win-win-win situation for all parties. Sola Vista was owned by an individual who was financially unable to complete the project and who wanted to avoid “foreclosure” from being named on his credit record. Urban Edge negotiated the purchase from the owner, negotiated with contractors to finish the project, then funded and reinstated the bank’s loan to avoid the foreclosure sale.
Urban Edge was able to offer its Sola Vista’s Equity Investors with a quick return of capital (90 days) as it purchased the Sola Vista project, completed the work, sold and closed all six units at a fair profit. |
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Equal Housing Opportunity | Site by Holler Design