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Clearwater MF Property Trades for $58M
Berkadia has arranged the $57.5 million sale of Standard at 2690, a 456-unit garden-style multifamily property in Clearwater, FL.
Located at 2690 Drew St., the community features one-, two- and three-bedroom floor plans with walk-in closets. Amenities include a fitness center, swimming pool, playground and laundry facilities. Jason Stanton and Cole Whitaker of Berkadia represented the seller, Iowa-based BH Equities, in the transaction. The buyer was Florida-based Infiniti BH. The deal closed December 23, 2020.
“Standard at 2690 is a well-located asset in Central Pinellas County that has a significant amount of capital spent on repositioning the asset in the market in recent years,” said Stanton. “These improvements provide the opportunity for the new owners to come in and leverage off what has been completed and build upon the improvements in the near future, ultimately increasing value.”
For comments, questions or concerns, please contact David Cohen
