Done Deals: St. Pete, Venice apartments sold for $31M
St. Petersburg, Venice apartments sold for combined $31 millionThe 276-unit Sienna Bay Apartments in St. Petersburg have sold for $19.5 million, according to Institutional Property Advisors, a division of Marcus & Millichap Real Estate Investment Services, which brokered the deal.
IPA also announced the sale of the 243-unit Monterrey Apartments in Venice for $11.5 million.
DT Group Development Inc. sold Sienna Bay, 10601 4th St. N. in St. Petersburg, to Harbor Group International LLC . Fairfield Residential Co. LLC sold Monterrey Apartments to Beachwold Residential LLC.
Jamie B.May, a senior director in Tampa IPA, all parties represented in both transactions.
"The ability to buy large, high quality, full-service properties in a market where tenant demand remains strong for these assets continue to attract investors," said May in a statement.
Bradenton apartments sell for $ 23 millionSawgrass Cove Apartments in Bradenton was purchased for $ 23 million by Atlas Partners based in New York and Boca Raton Real Estate, Andover Real Estate Partners.
Hendricks & Partners negotiated the sale in Orlando by Chicago-based Equity Properties, Residential.
The 20-year-old apartment community is located near the DeSoto Square Mall and the Pinebrook-Ironwood Golf Course.
Beech Street Capital LLC provided a $16 million Fannie Mae said that it has purchased Lithia Crossings for $13.25 million at an initial 8 percent cap rate.
The 81,000-square-foot shopping center is located on Lithia-Pinecrest Road near FishHawk Ranch in south Hillsborough County.
“Lithia Crossings is an excellent addition to our operating portfolio as we select strong real estate in markets with superior demographics,” John A. Kite , chairman and chief executive officer of the Indianapolis-based real estate company said in a release.
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DT Group Development Inc. sold Sienna Bay, 10601 4th St. N. in St. Petersburg, to Harbor Group International LLC . Fairfield Residential Co. LLC sold Monterrey Apartments to Beachwold Residential LLC. Jamie B. May, an IPA senior director in Tampa,
DT Group Development Inc. sold Sienna Bay Apartments to Harbor Group International LLC, while Fairfield Residential Co. LLC sold the Monterrey Apartments complex to Beachwold Residential LLC. The 261100-square foot Sienna Bay Apartments traded for
Fairfield Residential LLC, which built the apartments in 2007, sold the 12-building complex on June 21 to Texas-based Behringer Harvard Stonegate LLC. The buyer is a partnership between Texas-based real estate investment company Behringer Harvard and
CRT Capital Group acquired the institutional sales and trading platform of Braver Stern Securities LLC, joining the existing securitized products platform of Stamford-based CRT. The newly expanded group will focus on agency and non-agency residential
Copart will also create three divisional processing centers located in Fairfield, California, Grand Prairie, Texas and Hartford, Connecticut. Certain functions currently performed at the Fairfield, California corporate headquarters will transition to
Fairfield Residential LLC Selects Rainmaker LRO™ for up to 50000 ...
The system also produces enterprise-wide demand forecasts by measuring and analyzing historical and current market metrics and performing calculations necessary for occupancy predictions that are dynamically updated as market conditions change.
LRO to increase revenue and asset value
“Fairfield used to turn properties quickly, but because of market changes we are holding them for a longer term,” Ball said. “We will leverage LRO to manage the bottom line, allowing us to increase revenue and asset value in advance of sales."Our property management teams and report that the group installation RSO professional practice knowledge of our industry and does an excellent job."
About Fairfield Housing Corporation LLC
Fairfield Housing Corporation LLC is among the most experienced multifamily real estate operating companies in the United States. The Company was built around the provision of additional services throughout the life cycle of a project for real estate investors. Fairfield provides acquisitions, entitlement, development, construction, redevelopment, property and asset management, and disposition services to its joint venture affiliates and third party entities.
Fairfield Residential is privately held and offers a diversified product line including new construction of luxury apartment homes, university student housing, tax credit affordable housing properties, and redeveloped apartment homes in urban and suburban infill neighborhoods.
The Rainmaker Group – a Microsoft Silver Partner software and services company – is an industry-leading provider of revenue management and profit optimization solutions to owners/operators in the multifamily housing and gaming/hospitality industries. Rainmaker software, coupled with professional business consulting services, enables multifamily housing operators to maximize revenue from apartment leases and helps operators of casino hotels and other hospitality enterprises secure the most valuable customers to increase their profitability.
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SMART response to request for qualifications, joint development of Railroad Square property
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... into the limited partnership, Maconda Park, LP and the developer on the project Fairfield Residential, LLC invested and served as the general partner. ...Who owns whom, North & South America
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