TAMPA, Fla. — Hendricks-Berkadia Apartment Real Estate Advisors, which ranks as one of the leading multi-family investment banking and research companies in the nation, recently negotiated the sale of the 222-unit Bayridge apartment community at 3021 S.R. 590 in Clearwater.
Situated on 10.09 acres, the community consists of six, three-story buildings and offers five diverse floor plans, averaging 1,001 square feet.
Jason Stanton, vice president based in Tampa, negotiated the sale with Cole Whitaker, partner who heads Hendricks-Berkadia’s southeast region, and associate partner Hal Warren of the firm’s Orlando office.
Hendricks-Berkadia represented the seller, Bayridge Investment Partners, LLC.
Stanton said the investment property, built in 1991, was located in an infill Clearwater location and has had over $1 million in renovations and improvements over the past six years. This has positioned the property for a value-add renovation program, allowing the new owner to increase revenue moving forward.