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….

Yield Pro: Franklin Street arranges $56 million sale of 517-unit St. Petersburg, Florida multifamily community

Franklin Street has arranged the sale of Osprey Pointe Apartments, a 517-unit, garden-style multifamily community in St. Petersburg, Florida, for $56 million, or $108,317 per unit. Franklin Street’s Tampa-based Multifamily Investment Sales Team of Darron Kattan, Zach Ames, Avery Jordan and Mark Savarese brokered the off-market transaction between the seller, Des Moines, Iowa-based BH Equities, and the buyer, New York-based Axonic Properties, LLC. Axonic…