TAMPA, Fla., March 1, 2021 /PRNewswire/ — Caleb Walsh (https://urbanbayhousingfund.com/) officially announced he had entered into a contract to purchase St. Moritz, a collection of two-bedroom townhomes centrally located near the coast in the Tampa region. With a host of amenities, St. Moritz represents affordable housing with a luxury feel in a growing urban area. Caleb Walsh is the director of Urban Bay Housing Fund, and was named one of the Top 100 People in Real Estate to watch by Top 100 Magazine. Urban Bay Housing Fund is a nationally recognized market leader, specializing in the development and management of multifamily and commercial properties throughout the U.S.
“We’re very excited and pleased to announce this purchase,” said Walsh. “It represents a continuing commitment by Urban Bay Housing Fund to develop housing investment opportunities that our investors can be proud of. There is an ongoing affordable housing crisis in Florida, directed affected by the economics of the region and, ironically, its continued growth. Put simply: though the area is booming with opportunity, most middleclass people cannot afford to live there. This is a complex issue, dealing partially with population growth – the state adds nearly 400-thousand new people a year – as well as the rising cost of Florida real estate; in addition, the balance between income and expenses, and the continual need for housing by working class folks – many of whom just cannot afford to purchase a home – exacerbates the problem. Fortunately, quality multifamily living units like St. Moritz provide a wide-ranging solution to most of these issues, especially in a thriving community like Tampa.”
St. Moritz: The Best Kept Secret in Tampa
Each St. Moritz townhome is a fully modern living space with two bedrooms and all the amenities of a fine apartment home, including: all-electric kitchens with dishwasher, microwave, refrigerator, pantry, and breakfast bar; washer and dryer; plush carpeted floors and ceiling fans; central air and heating; and a full balcony and patio for each unit. In addition to taking complete advantage of the sunny location, with access to schools, parks, restaurants, and shopping, St. Moritz offers a swimming pool, modern clubhouse, fitness center, billiards room, picnic area, and a business center maintained by a professional staff who provide prompt on-call service and property management.
About Caleb Walsh
A nationally recognized authority on finance, development, and property sales, Caleb’s multifamily property investing began with residential real estate flipping in 2008. Not long after completing nearly $5-million in transactions at the time, Caleb began to observe the alarming decline of the credit markets, and decided to adapt to the changing economic environment by converting a variety of existing projects into rental portfolios. Through 2015, Caleb acquired nearly $50 million in multifamily properties in an expansion that quickly highlighted the weaknesses of property management companies. So, Caleb developed a new management formula, putting together a highly qualified team of regional property managers to address these issues.
Since then, the creation of Urban Bay Housing Fund has allowed Caleb to expand to over 150 locations – with holdings in 10 states, spanning from the Southeast to the upper-Midwest. His specialty is reviving declining rent rolls by increasing both their value and practical appeal.
About Urban Bay Housing Fund
The Urban Bay Housing Fund group is comprised of highly skilled real estate specialists with varied and nuanced expertise in every sector of the commercial real estate industry. Specializing in multifamily and hospitality off-market transactions as a core of its commercial acquisitions, Urban Bay buys and holds lucrative, self-managed real estate ventures in major markets before matching them to the best, complimenting franchises – with a broad focus in properties located in the Western and Southern United States. Learn more at: www.UrbanBayHousingFund.com.
Thomas Maniotis Esq, General Counsel for Urban Bay Housing Fund LLC
SOURCE Urban Bay Housing Fund