Main Street Residential Acquires The Park At Ashley Place in New Port Richey, Florida

NEW PORT RICHEY, FL - Main Street Residential, a Florida based multifamily investment group, added The Park At Ashley Place to their portfolio on August 8, 2019. Debt and equity was provided by Electra Capital, LLC. The asset is located at 4031 Vista Verde Drive in New Port Richey, FL.

Ashley Place will receive Main Street Residential’s signature rebranding via strategic renovations and upgrades to reflect a "best in market" class B asset, including full exterior, interior, common area, energy saving and technology upgrades. The property has 12-two story buildings, clubhouse, rental office, pool and fitness center on 8 acres comprising 143 one and two bedroom apartment homes. It is situated in Pasco County’s high growth corridor just north of Tampa.

Main Street Residential co-founder and Manager, Todd C. Marshall, said in a prepared statement, "Ashley Place is poised in a booming submarket near the Florida Gulf Coast. Pasco County is experiencing exponential growth in new developments for office, industrial, retail and single family home communities. The property is a perfect candidate for our signature rebranding and well-tuned, value-add program. We are excited to add this asset to our growing value add portfolio and be part of the Pasco County and Tampa communities."

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