Sage & Lantana at Cypress Cay

Sage and Lantana at Cypress Cay is a luxury apartment portfolio located in Lutz, Florida, just north of downtown Tampa. This Class A, garden-style community consists of two properties: Sage, a 324-unit community completed in 2022, and Lantana, a 252-unit community completed in 2023. The communities are situated near top shopping, dining, and entertainment destinations, as well as key regional attractions like the University of South Florida and the Museum of Science and Industry. Their prime location offers convenient access to major employment hubs, including Downtown Tampa and the Westshore Office District, both within a 30-minute drive.

This off-market acquisition presented an opportunity to secure 576 units in a high-demand submarket with strong fundamentals. The units feature premium finishes, including stainless-steel appliances, granite countertops, tile backsplashes, 9′ ceilings, and luxury vinyl flooring, catering to the expectations of an affluent renter base with a median household income of $121K. At pro forma rents of $2,049 per month, the portfolio offers renters a 47% discount compared to the cost of homeownership in the area, where median home prices approach $615K with monthly ownership costs of ~$3,877. This discount, coupled with the portfolio’s modern amenities and strategic location, positions Sage and Lantana as highly competitive assets with strong growth potential in the thriving Tampa MSA.