CLEARWATER, FLA. (July 1, 2019) – Berkadia has arranged the sale of Turnbury at Countryside, a 350-unit garden-style multifamily property located in Clearwater, Florida. Jason Stanton, Managing Director of Berkadia’s Tampa office and Senior Managing Director Cole Whitaker of Berkadia’s Orlando office arranged the sale on behalf of McKinley Companies LLC. MLG Capital purchased the property.
“This property was acquired on a loan assumption basis and represented a great value-add opportunity in a central Clearwater infill location, close to major employers and demand drivers,” said Stanton.
Built in 1974 on 15 acres at 25350 U.S. Highway N. 19, Turnbury at Countryside consists of studio, one-, two- and three-bedroom apartments, averaging 839 square feet. Individual units feature central air conditioning and heat, screened-in private balconies or patios, and washer-dryer connections. The community offers two swimming pools, a dog park, tennis court, a sand volleyball court, 24-hour fitness center and Wi-Fi sundeck.
Turnbury at Countryside is located seven miles from downtown Clearwater, close to Interstate 19, providing residents easy access to a diverse mix of shopping, dining, and entertainment options. Mease Countryside Hospital, a major employer in the area, is underway on a $156 million expansion project. Other major employers in the area includes Tech Data’s headquarters and Lincare Holdings, Inc.