BMC Investments Expands in Florida with $776M Acquisition of Tampa’s Park at Valenza Apartments

Denver-based BMC Investments has officially acquired Park at Valenza Apartments, a 776-unit multifamily community. This move marks BMC’s third multifamily acquisition in Florida. This acquisition solidifies and reinforces the firm’s approach towards high-growth Southeast markets. 

Previously, it was owned by Blue Roc Premier Properties since 2016. Financing for the deal was provided by a fund sponsored by Prime Finance.

Let’s be clear: This isn’t just another warm-weather asset grab. It’s a calculated bet on Tampa’s fundamentals. The Tampa market has held steady through recent volatility, with average rent rising to $1,804 at the end of 2024, but the strong stability in today’s market conditions speaks volumes. That’s not noise; that’s momentum.

The Asset: Value-Add Potential at Scale

Park at Valenza was developed in three phases between 1987 and 1996. Sitting on 36 acres, it comprises 78 two and three-story buildings and offers one- to three-bedroom units from 630 to 1,273 square feet. It’s not new, but it’s got what matters: scale, location, and bones that can be optimized.

BMC isn’t coming in to babysit an old asset. The firm is using capital in tangible upgrades: roofing, landscaping, parking, and a few selective unit renovations. This is all about driving the rent growth.

Strategic Growth in Florida

Park at Valenza marks BMC’s first play in the Tampa market, but it follows on the heels of the ARIUM Sunrise acquisition (400 units in Sunrise, Fla.) just last month. That deal, a $90 million joint venture with FCP and The RMR Group, showed BMC is serious about building scale in Florida.

BMC is targeting underperforming assets in solid markets and unlocking upside through disciplined execution. Tampa, with its consistent rent performance and job growth, fits that thesis like a glove.

Key Takeaway: BMC's Strategic Tampa Acquisition Sets the Stage for More

This acquisition isn’t a headline, it’s a signal. BMC is expanding with intent, not hope. With institutional capital backing and a proven renovation-first playbook, expect more Florida moves to follow.

Because at the end of the day, this isn’t about units. It’s about returns. And BMC is betting Tampa still has room to run.