Reduce the Risk of a Property Loss this Fourth of July Weekend

July 1, 2021

Happy Independence Day from Franklin Street! While we hope everyone has an enjoyable holiday, it’s our duty to remind our clients of the risks associate with Fourth of July celebrations. Each year, more than 19,500 reported fires are started by fireworks and almost 9,000 fires are started by grills. To ensure Commercial Property Owners are…

How to Navigate Today’s Volatile Commodities Market as a CRE Developer

June 29, 2021

By Nick Sanfilippo, Senior Vice President, Project Management The construction commodities market has been seeing extreme volatility in recent months, impacting virtually every sector of commercial real estate development. Essential building materials – including lumber, steel, cement, wallboard, insulation, copper, paint, PVC and others – are all experiencing some degree of inflation and supply shortages….

Tampa Bay Times: St. Petersburg apartment complex sells for $56 million

A large apartment complex near the southern tip of St. Petersburg has sold to a New York real estate investment firm for $56 million. Axonic Properties, which owns a handful of apartment and condo properties around Tampa Bay, snapped up the Osprey Pointe Apartments in Pinellas Point on June 22, according to a deed filed…

Southeast Real Estate Business: Franklin Street Negotiates $56M Sale of Multifamily Community in Tampa Bay Area

ST. PETERSBURG, FLA. — Franklin Street has negotiated the sale of Osprey Pointe Apartments, a 517-unit, garden-style multifamily community in St. Petersburg. The property sold for $56 million, or $108,317 per unit. Darron Kattan, Zach Ames, Avery Jordan and Mark Savarese of Franklin Street brokered the off-market transaction between the seller, Des Moines, Iowa-based BH…

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

June 28, 2021

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….