Florida & Gulf Coast + Central Florida + Apartments | June 28, 2021

Franklin Street Brokers $56M Sale of St. Petersburg Apartments

Franklin Street has arranged the $56 million sale of Osprey Pointe Apartments, a 517-unit, garden-style multifamily community in St. Petersburg.

Osprey Pointe offers one-and two-bedroom units ranging from 625 to 1,058 square feet. Amenities include on-site professional management and maintenance, a tennis court, fenced playground area, dog park and a swimming pool and sundeck. The community is located at 1900 55th Ave. South in St. Petersburg.

Darron Kattan, Zach Ames, Avery Jordan and Mark Savarese of Franklin Street brokered the off-market transaction between the seller, Des Moines-based BH Equities, and the buyer, New York-based Axonic Properties. Axonic Properties plans to make significant improvements to Osprey Pointe, which was built in 1974.

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Franklin Street’s Kattan

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.