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Florida & Gulf Coast  + Apartments  |  January 17, 2021
David Cohen
By: David Cohen

St. Petersburg Apartment Property Trades for $55M

A real estate fund managed by Covenant Capital Group LLC has acquired Brandywine Apartments, a 477-unit garden-style apartment property in St. Petersburg. The sales price was $55.3 million.

Built in 1972, the property is located at 1699 68th Street N. and consists of studios, one-, two- and three-bedroom units. Interiors include vinyl flooring, walk-in closets, kitchen islands and washer/dryer. Community amenities include a business center, fitness center, swimming pool, courtyard and clubhouse.

Covenant Capital Group is a value-add investment manager with an exclusive focus on the acquisition and renovation of apartment communities. Jason Stanton of Berkadia’s Tampa office and Cole Whitaker of Berkadia’s Orlando office represented the seller, GMC Properties, in the transaction.

For comments, questions or concerns, please contact David Cohen

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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.
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