Providence Real Estate Completes Sale of Tampa, Florida Apartment Community

CHICAGO, IL, December 13, 2019 — Providence Real Estate, LLC (“Providence”), a multifamily owner-operator, announced the completion of the sale of an apartment community located in Tampa, Florida. The investment achieved a 22% internal rate of return and a 2.3x equity multiple.

“The financial success of apartment investment underscores why Providence continues to be an active owner and operator of workforce rental housing throughout Central Florida. The returns realized in this investment are largely a result of Providence’s abilities, honed over the last threeand-a-half decades, to acquire, renovate, operate and harvest multifamily opportunities in highgrowth markets such as Tampa.” said Alan Pollack, Providence’s Chairman.