Blog Archives

New Towne Properties Pays $7.8 Million for Waterside Village Apartments

New Towne Properties, an investor based in Largo, FL, acquired the 102-unit Waterside Village Apartments in St. Petersburg, FL from Mallah Enterprises for $ 7.8 million, or about $ 76,000 per unit. Located at 3600 49th Ave., the 31-buidling multifamily community was originally built in 1976, but was renovated in 1988. Waterside Village Apartments offers […]

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Christian Tyler Properties Pays $10.5M for PCC #5

Christian Tyler Properties LLC purchased the Pinebrook Commerce Center building at 10210 Windhorst Rd. in Tampa, FL for $ 10.5 million, or $ 175 per square foot, from a private investor. PCC #5 is a 60,000-square-foot office building in east Hillsborough County. The property was built in 2002 and is located near Interstates 75 and […]

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Convexity Properties Sells Urban Style Flats in St. Petersburg for $46.3M

Novel Property Ventures acquired the Urban Style Flats apartments at 310 10th St. S in St. Petersburg, FL for $ 46.25 million, or about $ 96,000 per unit, from Chicago-based Convexity Properties. The 481-unit, 227,240-square-foot multifamily property was built between 1971 and 1978, situated within walking distance of many attractions such as Tropicana Field, the […]

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Amherst Buys 1,523 Single-Family Rental Properties from Institutional Investor

Amherst Holdings acquired a portfolio of 1,523 single family rental (SFR) properties from an undisclosed institutional owner and operator of the rental properties for $ 153.4 million or about $ 100,722 per home. The acquired portfolio consists of rental properties in nine markets where Amherst currently owns and manages properties, including Atlanta, Charlotte, Dallas, Jacksonville, […]

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CoStar Market Insights: Sales Activity of Existing Multifamily Properties Across Florida Focusing on Value Add Renovations to Increase Rents While New Product Continues Flying Off Shelves in South Florida

By: Danielle Grimelli and Evan Snow, CoStar Market Analytics.Looking across the Sunshine State, the Daytona Beach metro has enjoyed strong rent growth and a historically low vacancy rate that surpassed the national level starting in 2014. Strong job growth above the national average is expected to continue supporting low vacancy levels at a minimum. With […]

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