A Palm Harbor apartment complex is selling in a big acquisition. Leading hotel developer working with large flags buys hotel in Clearwater Beach. Another important apartment acquisition takes place. A doctor’s office next to St. Anthony’s Hospital in St. Pete is recovered. Film and media company buys warehouse to expand studios. A former Rays manager’s house hits the market. A house linked to actor John Travolta has a new owner.
Here is this week’s roundup of local real estate offers:
Stillwater Palms apartment complex sells for nearly $ 67 million
A large multi-family operator has purchased the 396-unit Stillwater Palms apartment complex in Palm Harbor.
Los Angeles-based multi-family investment firm TruAmerica Multifamily has taken over ownership of 2350 Cypress Pond Road in a deal worth around $ 67 million.
The group took out a mortgage of $ 58.8 million for the purchase. The group also completed a separate transaction, purchasing another 20 units for $ 3.525 million.
TruAmerica Multifamily is a leading management company aspiring to be the leading multi-family investor and operator in the United States. The group usually buys class B apartment complexes and renovates them.
The acquisition of the Stillwater Apartments represents the largest purchase of the group’s recent acquisitions totaling $ 209 million.
The company’s portfolio of properties includes other complexes in Palm Harbor, such as the 292-unit Lakeview at Palm Harbor complex, which was acquired in late 2020, and the 262 Twin Lakes units in North Palm Harbor, acquired in 2019.
Other nearby resorts include the 329 Aspire at Gateway units in Pinellas Park, the 212 Bayou Point units in Pinellas Park, and the 461 Four Lakes units at the Clearwater property.
Beachview Suites hotel in Clearwater Beach sells for $ 27 million
A Tennessee-based developer has acquired the Beachview Suites Hotel and its adjacent property on Clearwater Beach.
The two plots were sold to the 3H group as part of a $ 27 million deal.
The 3H Group is a leading developer of hotels, retail businesses, residential real estate and office spaces.
The five-story, 38,450-square-foot hotel has over 60 units and is located along Clearwater’s waterfront promenade. The property is nestled between the popular Surf Style retail store and Crabby’s Bar and Grille restaurant.
The hotel is not the first Clearwater property in the group’s portfolio. The 3H group also owns the 115 SpringHill Suites / Residence Inn by Marriott Clearwater Beach rooms at 309 Coronado Drive.
The apartments on 2nd street are acquired
The Four Square Management group acquired the 2nd Street Apartments building for $ 4 million.
The three story complex, located at 711 3rd Ave. S., was built in 1929. It measures over 28,500 square feet and has 74 residential units.
The Fort Myers-based company also took out a $ 6.5 million mortgage to purchase the complex, occupying multiple lots.
St. Anthony’s Hospital Large Doctor’s Office Sold
An approximately 14,000 square foot medical office located at St. Anthony’s Hospital sold for $ 2.3 million.
The Pennsylvania home buying group Fifth Avenue Property Group is the new owner of the property at 1401 5e Ave. N. located in historic Uptown.
The property was built in 1977 and appears to have been used as a residential property.
Fifth AVG typically purchases properties that are vacant and in distress.
The production and cinema company takes over the headquarters of ComDesign
St. Pete-based Litewave Media, a production company known for working on local films, has purchased a warehouse that it will reuse for additional and advanced studio space.
The group purchased an 11,412 square foot office warehouse at 9850 16th St. N. in a $ 1.4 million deal and also took out a $ 1.12 million mortgage for the purchase.
The warehouse was the headquarters of telecommunications cabling supplier ComDesign.
The plan would be to build three new studios in the warehouse over the next two months and have the fourth studio in the warehouse in 2022.
Former Rays manager’s house hits market
Former Rays manager Joe Maddon is selling his home on Bayshore Boulevard.
Maddon was hired to work for the Rays in 2006 as the team manager. Today, he is the manager of the Los Angeles Angels.
However, Maddon still has ties to Tampa. He is a partner of the Ava restaurant in South Tampa. Her charity, the Respect 90 Foundation, is still based in Tampa.
He and his wife, Jaye, bought the 1917 home at 1001 Bayshore Boulevard in 2012 for $ 1.76 million.
The 5,403 square foot Dutch colonial house was previously the home of former Bucs coach John McKay.
The asking price is $ 3.9 million.
The main house has four bedrooms upstairs, three full bathrooms and a powder room.
The Maddons completely renovated the house, including installing a new roof and gutters, windows and HVAC systems (in the main house), updating the water filtration system and installation of new electrical panels.
There is a guest suite above the three car detached garage which includes two bedrooms and a bathroom.
There is also a separate room described as a media room / music studio / theater room with five televisions.
Outside the main house there is an updated and remodeled salt filtration pool with a pool deck, outdoor kitchen and propane gas fireplace.
Home linked to actor John Travolta has a new owner
A Clearwater home linked to Hollywood actor John Travolta has been sold.
The Waterfront Home at 1012 Osceola Ave. N., in the Old Clearwater Bay neighborhood, sold for $ 4 million, according to Pinellas County records.
The buyer was listed as Edward Fay who is a local specialist in wealth management. Fay took out a $ 3 million mortgage for the purchase.
Travolta has a long involvement with the Church of Scientology; the house is approximately one mile from the Scientology International Spiritual Headquarters in downtown Clearwater.