Cushman & Wakefield’s Florida Multifamily Advisory Group announced today the sale of Promenade at Carillon in St. Petersburg, Fla., for a total of $45,800,000 on behalf of the seller, AREA Property Partners. The purchaser was TA Associates Realty. Executive Director Byron Moger and Senior Director Luis Elorza of C&W were the only brokers involved in the transaction.
“Promenade at Carillon just completed a dramatic upgrade program on all unit interiors as well as significant improvements to the overall property especially the club house,” Elorza said. “The property is extremely well positioned to benefit from its A+ location and a very healthy rental market in 2014.”
Promenade at Carillon is a 334-unit complex that offers one, two and three bedroom apartments with in prestigious Carillon Park. The complex is walking distance to nearby employers including the Raymond James Financial (headquarters), AEGON, Franklin Templeton, Allstate Insurance, Bright House Networks, Home Shopping Network, PSCU, Tech Data, Jabil and Danka. Amenities offered at Promenade at Carillion include a salt water swimming pool, outdoor kitchen, pool lounge area, fitness center and garage parking.
Cushman & Wakefield is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets, as evidenced by its frequent involvement in many of the most significant property leases, sales and management assignments. Founded in 1917, it has 250 offices in 59 countries, employing more than 14,000 professionals. It offers a complete range of services for all property types, including leasing, sales and acquisitions, equity, debt and structured finance, corporate finance and investment banking, corporate services, property management, facilities management, project management, consulting and appraisal. The firm has more than $3.7 billion in assets under management globally. A recognized leader in local and global real estate research, the firm publishes its market information and studies online at www.cushmanwakefield.com/knowledge