To most overseas investors, Florida is synonymous with Miami. A chunky amount of capital is being dropped on the real-estate table in South Florida, simply because the northern hinterland seems too opaque to globetrotting dealmakers. Many of our close-in names go silent when we mention potential property-related investments in the Tampa area. They prefer the marquee appeal of Miami.
Few outsiders may recognize that Tampa Bay holds title to the state’s largest port. That feature, among others, offers balance and depth to the local economy that may be hard to find elsewhere in the state. Validation can be found in the multi-billion dollar redevelopment project unfolding in downtown Tampa. The project has attracted investors of national stature, not just nearby funding.
One portfolio manager recently called Tampa a value story: “It really has not been found out yet.” That language should be comforting to foreign investors who find “growth” to be too risky in the current market setting. ■
Learn more at CNBC.
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Image shows Tampa skyline. Credit: Littleny at Can Stock Photo Inc.
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