Multi-Housing News: BH Equities Sells Tampa Bay Community for $56M

July 1, 2021

Axonic Properties has acquired the 517-unit Osprey Pointe Apartments in St. Petersburg, Fla., from BH Equities, in an off-market transaction. Franklin Street arranged the $56 million deal.  Yardi Matrix data shows that the buyer assumed the outstanding balance of a $36.6 million CMBS loan originated last year. The 10-year loan was provided by Capital One,…

What Clients Can Expect from Franklin Street Insurance: Program Administration Services

Within Franklin Street Insurance, our Program Administration team is dedicated to the daily servicing of our client’s portfolios. By creating trusting relationships, this allows us to tailor our services to the specific needs of each individual Commercial Property Owner. It is our commitment to treat everyone as if they are our only client. We collaboratively…

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

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…