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Florida & Gulf Coast  + Apartments  |  July 23, 2020
David Cohen
By: David Cohen

St. Petersburg MF Portfolio Trades for $15M

CBRE has arranged the $15.3 million sale of the Urban Core Portfolio, a nine-property, 119-unit multifamily portfolio in Downtown St. Petersburg.

Currently, 30% of the units are operated as short term rentals while 90% of the units were studio and 1-bedroom floorplans. New ownership plans to combine operations of their current holdings with the Urban Core Portfolio, while executing a value-add strategy on the properties that have not been fully renovated.

Frank Carriera, Joseph Thavis and Cameron Barbas of CBRE represented the private buyer as well as the seller, Jacana Real Estate, Inc., 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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