Fairstead Acquires 200-Unit Affordable Apartment Complex in Tampa for $30.7M, Plans $24M Renovation
New York-based affordable housing firm Fairstead has acquired Silver Oaks Apartments, a 200-unit affordable apartment complex in Northeast Tampa, for $30.7 million, with plans to invest an additional $24 million in renovations, the company confirmed to the Tampa Bay Business Journal.
The property is located at 4200 Kenneth Court in Tampa, Florida. The planned renovation program will cover in-unit and exterior improvements to all apartments and shared spaces.
Deal Details: Silver Oaks Apartments Acquisition
The Silver Oaks Apartments transaction represents a value-add multifamily strategy for Fairstead, a firm that focuses on improving affordable housing communities. At $30.7 million for 200 units, the acquisition equates to approximately $153,500 per unit. The seller was not disclosed in the announcement.
The planned $24 million renovation program will address in-unit upgrades, exterior improvements, and shared amenity spaces throughout the complex. Fairstead did not disclose a renovation timeline or details on the scope of individual unit upgrades in the announcement.
Fairstead's Recent Acquisition Activity
The Silver Oaks acquisition follows other recent transactions by Fairstead in the affordable multifamily sector. In December 2025, the firm secured $202 million in financing from PNC Multifamily Capital to acquire Haverstock Hills Apartments. In January 2026, Fairstead announced a $43.3 million acquisition and rehabilitation of a 168-unit, 10-building affordable housing community in Houston, Texas.
About Fairstead
Fairstead is a New York-based real estate company focused on affordable housing acquisition, development, and management. Fairstead has not publicly disclosed the seller in the Silver Oaks transaction.
Sources: Fairstead (fairstead.com); Tampa Bay Business Journal (bizjournals.com/tampabay, May 11, 2026).