Berkadia, a distinguished leader in the commercial real estate sector, announced today the sale of Atwood Oaks and Davis Gardens, two vintage apartment communities totaling 211 units located approximately two miles apart in Pensacola, Florida.
Managing Director David Etchison of Berkadia Central & North Florida and Managing Director Andrea Kendrick of Berkadia St. Louis led the transaction. Tioga Partners IV LP, associated with Tioga Capital of Atlanta, acquired the 136-unit Atwood Oaks, while OM SAI RAM SAI LLC of Cantonment, Florida purchased the 75-unit Davis Gardens.
“We are excited to announce the successful sale of two properties in Pensacola, Florida, to qualified buyers who see the strength in this vibrant coastal market,” said Etchison. “Pensacola continues to attract significant investment, and the capital improvements planned for these communities will enhance the quality of life for residents and the surrounding community.”
Built in 1972, Atwood Oaks at 1857 Atwood Drive comprises 136 one- and two-bedroom apartments ranging from 795 to 989 square feet. The two-story, wood-frame community spans 6.73 acres and offers 237 parking spaces, a swimming pool, bark park, courtyard, clothing care center, and on-site maintenance.
Completed in 1985, Davis Gardens at 8619 N. Davis Highway features 75 studio, one- and two-bedroom units ranging from 288 to 864 square feet across nine single-story, wood-frame buildings on a 5.1-acre site. Amenities include wooded views, a bark park, barbecue/picnic area, clothing care center, on-site maintenance, and 107 parking spaces.
Both properties are near major employment hubs such as the University of West Florida, Pensacola State College, Baptist Hospital, HCA Florida West Hospital, and Pensacola International Airport. They are within 15 minutes of Downtown Pensacola and the Port of Pensacola and 25 minutes from the area’s renowned beaches.
Located along the Alabama state line, the Pensacola–Ferry Pass–Brent, FL Metropolitan Statistical Area (MSA) – part of the Emerald Coast – boasts a population of approximately 542,000 residents. The market continues to draw new residents each year thanks to its dynamic economy, driven by military and defense sectors, expanding global trade, and a thriving tourism and hospitality industry.
