Silverstein Properties, a real estate investment and management firm, has acquired a 34,000-square-foot site in Tampa through their Cantor Silverstein Opportunity Zone Trust from 1754 Properties and its partner Triangle Capital Group.

The site will be developed into a residential tower with 430 apartments and 15,000 square feet of retail.

“Tampa is one of the country’s fastest growing residential markets,” said David Marks, head of acquisitions for Silverstein. “With this acquisition, we are delighted to bring our expertise into more cities across the U.S. The opportunity allows us to leverage Silverstein’s national high-rise development capabilities and existing residential portfolio knowhow.”