The 84-unit Briar Hill Apartments will undergo interior and exterior upgrades
St. Petersburg, Fla. (October 16, 2018) – Briar Hill Apartments, an 84-unit, eight-building apartment complex near St. Petersburg in Kenneth City has sold for $6.95 million. The buyer, Arena NG, LLC, plans to do interior and exterior upgrades to the property.
Craig Brown, Senior Associate, and Will Mathews, Senior Vice President and Principal, both with Colliers International’s East Region Multifamily Advisory Group, represented the buyer, Arena NG, LLC. The seller is Halt, LLC.
The community, which is centrally located in Pinellas County and 8 miles from downtown St. Petersburg, is the buyer’s first acquisition in the Tampa Bay market.
“This transaction points to the continued demand for well-located properties in the Tampa-St. Petersburg market,” said Colliers’ Brown. “This property is positioned to benefit from the demand and growing employment in the area.”
The multifamily property consists of one-bedroom, one-bathroom units and two-bedroom, two-bathroom units, and has such amenities as a pool and two on-site laundry facilities.
The complex is located at 5946 54th Ave. N in Kenneth City.
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