September 8, 2025

LEM Capital Acquires Central Florida Property

Philadelphia, PA – LEM Capital, L.P. (“LEM”) has acquired Circa at Fishhawk Ranch (“Circa”), a 260-unit multifamily community built in 2015. LEM will execute a comprehensive value-add strategy focused on targeted upgrades to the property’s exteriors and common areas, amenity enhancements, and operational improvements. The property was acquired in partnership with a repeat, locally based operating partner, Robbins Property Associates.

Circa is located in the highly desirable Fishhawk Ranch master planned community in Southeast Hillsborough County, within the Tampa MSA. Fishhawk Ranch features top-ranked public schools, strong income demographics, and abundant lifestyle amenities including green spaces, walking trails, and neighborhood retail within a quiet, low-density setting. With limited new construction and high barriers to entry in the area, Circa is the only multifamily property within the community, uniquely positioned in one of Tampa’s most sought-after residential markets.

Built in 2015, the asset is well-amenitized featuring large floorplans, direct entry townhome units, attached and detached garages, elevator serviced buildings with air conditioned interior corridors, and premium amenities including a large clubhouse with residential lounge, business center, conference room, fitness center, and resort-style zero-entry pool with pavilion. The renovation program will focus on enhancing the existing amenity package, modernizing exterior curb appeal, and implementing targeted upgrades to the apartment interior finishes.

“We are very excited to acquire this off-market opportunity with one of our longstanding operating partners,” said Kevin Weidman, a Director at LEM. “The quality of this asset and location offers downside protection for our investors, and the investment reflects our conviction in Tampa’s long-term growth.”

About LEM Capital

LEM Capital is a real estate private equity firm with a 23-year track record focused on protecting investors’ downside and building portfolios to help deliver dependable current cash flow and equity upside through good and bad cycles.

The team consists of multifamily experts that seek to acquire well-located apartment properties where LEM can create value through physical upgrades and implementation of better management practices. The firm’s approach combines the local, long-term market knowledge and day-to-day management of its network of nationwide operating partners with LEM’s disciplined investment selection, rigorous due diligence process and intensive asset management oversight, all led by the firm’s partners. LEM’s goal is to deliver attractive risk-adjusted returns to its investors while safeguarding capital.

Since 2002, LEM has raised approximately $1.8 billion in investor commitments and invested over $9.2 billion in real estate value contributing to their expertise in structuring, execution and asset management. This includes acquiring over 27,000 value-add apartment units since 2011.

 Notes: All data as of June 30, 2025, unless otherwise noted.