Connect CRE: Franklin Street Arranges $32M Sale of Fort Pierce MF Community

March 5, 2021

Franklin Street has arranged the $32.2 million sale of The Sands at St. Lucie, a 320-unit apartment property in Fort Pierce, FL. Built in 1988, the affordable housing community is comprised of 21, two-story buildings featuring 208 two-bedroom and 112 three-bedroom units. At the time of sale, the property was 98% occupied. Amenities include an…

GlobeSt.com: Affordable Housing Developer Picks Up 320-Units in Florida

Southport Financial, one of the largest affordable housing investors in the country, has expanded its Florida multifamily portfolio with the purchase of The Sands at St. Lucie in Fort Pierce. Southport Financial purchased the property for $30.2 million from Code Capital Financial. The 320-unit apartment complex operates under Section 42, a subsidized housing and tax…

Franklin Street Negotiates Sale of Pompano Beach Apartments for $217K per Unit

March 4, 2021

The 22-unit, 1970s-built, mid-rise multifamily property achieved record per unit pricing BROWARD COUNTY, FL (March 4, 2021) — Franklin Street has arranged the sale of Riverside Beach Apartments, a 22-unit, mid-rise multifamily community in the heart of the South Florida’s Pompano Beach submarket. The property sold for $4.77 million, or $216,818 per unit – the…

Franklin Street Arranges $32.2M Sale of 320-Unit Multifamily Asset on Florida’s Treasure Coast

Southport Financial acquired the affordable housing community from Code Capital Partners  FORT PIERCE, FL (March 4, 2021) — Franklin Street has arranged the sale of The Sands at St. Lucie, a 320-unit apartment property in Fort Pierce for $32.2 million, or $100,625 per unit. The 1998-built, affordable housing community is situated in a high-growth corridor with new…

MultifamilyBiz: Franklin Street Arranges Sale of 88-Unit Executive House Apartment Community in Sarasota, Florida for $9.6 Million

March 1, 2021

SARASOTA, FL – Franklin Street has arranged the sale of Executive House Apartments, an 88-unit, value-add asset in Sarasota. The property, which has not traded hands in over 30 years, sold for $9.6 million, or approximately $109,000 per unit. Franklin Street’s Tampa-based multifamily investment sales team of Zach Ames, Darron Kattan, Avery Jordan, and Mark Savarese…