TAMPA, FL - The Altman Companies, a nationally recognized developer of luxury apartment communities, announced the sale of its Altís Highland Park for $46 million to Utah-based Cottonwood Residential. The luxury, mixed-use apartment community, located in Westchase at 11571 Fountainhead Drive, consists of 239 apartments and 5,000 square feet of retail space.
Headquartered in Boca Raton, Fla., The Altman Companies delivered the first residences for Altís Highland Park in November 2014 and completed the lease-up in just one year. Altís Highland Park offers studio, one-, two- and three-bedroom floorplans with resort lifestyle amenities. Average monthly rents range from $1,193 to $2,028.
Some of the more unique features include a private poolside lounge with a chef-inspired demonstration kitchen and fireplace, 24/7 club-class fitness center, yoga and aerobics studio with on-demand virtual fitness programs, game center, dog park and private community garden.
Along with the residential component, the master-planned community features retail space that creates a one-of-a-kind, all-inclusive community. The main street of Altís Highland Park includes Kahwa Coffee, a self-service auto detail facility and much more. Volume Hair Studio will move in later this year.
“The Altman Companies is proud to have delivered a first-class community for the highly desirable Westchase neighborhood,” said Joel Altman, chairman of The Altman Companies. “This sale shows the strong demand for luxury rental product in the area.”
About The Altman Companies: Since 1968, The Altman Companies has developed, constructed, acquired and managed in excess of 24,000 multifamily units in Florida, Michigan, Illinois, Tennessee, Georgia, Texas and North Carolina. Known for its development of exceptional quality rental apartment communities, the company has been a leader in the rental apartment field. For more information on The Altman Companies, go to www.AltmanCos.com.