Property Acquisitions and Dispositions
29th Street Capital (29SC), a privately-held real estate investment and advisory firm, has acquired Calais Park Lofts Apartments, a 261-unit multifamily community in St. Petersburg, Florida. 29SC plans to make cosmetic improvements to unit interiors, including new granite countertops, stainless-steel appliances and backsplashes, and re-facing the cabinets. Exterior projects will focus on clubhouse and fitness center improvements, refreshing the landscaping and updating the signage. A new system will notify residents when packages are delivered and keep them secure till they’re picked up.
CGI Strategies has acquired Sola at Celebration, a vacant 306-unit luxury multifamily community in Celebration, FL. The property was purchased from Southstar Capital Group in a transaction valued at $43 million.
Fort Myers, Fla. - Berkadia has arranged the sale of Cobblestone on the Lake, a 290-unit condominium community consisting of 186 rental units in Fort Myers, Florida. ESG Kullen, of New York, acquired the 186-units for $21.25 million, or $114,247 per unit. The deal gives the new owner complete control over the condominium association.
AUSTIN, TX – February 12, 2019 – Holliday Fenoglio Fowler, L.P. (HFF) announces it has arranged acquisition financing for Legacy Heights, a 306-unit, garden-style multi-housing community in San Antonio, Texas.
Miami-based Coral Rock Development Group and Arena Capital Holdings announced today that they have acquired Prospect Towers, a downtown Clearwater, Florida senior living high-rise for $13.5 million.
HOUSTON, TX – February 7, 2019 – HFF announces it has closed the sale of Vanderbilt Court, a 164-unit, garden-style multi-housing community in Southwest Houston.
, , and ,of Northcap Commercial Multifamily, are pleased to announce the recent sale of Valley Vista Apartments for $3,308,000 ($103,375/unit). This sale consisted of 32 multifamily units built in 2004, located at 2930 Mountain Vista Street in Las Vegas, Nevada.
TruAmerica Multifamily has acquired Island Club, a 472-unit Class B apartment community in Orlando, FL in a $64 million transaction.
Clearwater, Fla. – Berkadia announces it has arranged the $50.1 million sale and $37.22 million financing of Estates at Countryside, 320-unit multifamily asset in Clearwater, Florida. Berkadia’s Managing Director Jason Stanton out of Tampa and Senior Managing Director Cole Whitaker out of the Orlando office represented the buyer in the transaction. Senior Managing Director Mitch Sinberg and Associate Director Matt Robbins from Berkadia’s South Florida office arranged the acquisition loan on behalf of the buyer, an affiliate of Insula Companies.