Colorado firm acquires Pasco apartments

In one of the largest multifamily purchases of the past year in Pasco County, a Boulder, Colo.-based firm has acquired the Enclave at Wesley Chapel apartments for $52.5 million.

Valhalla Holdings' founder and owner Charles Gower says the 310-unit complex, at 1933 Stonebriar Drive, was attractive both from a pricing and quality standpoint.

“The property is very well maintained, and we thought it would be a good long-term asset for us,” he says, adding it was part of a 1031 tax-deferred exchange.

Gower also says his company also bought the Tranquility Lake complex, in Brandon, from seller Sherman Properties, so he felt comfortable with the Wesley Chapel transaction.