ORLANDO, Fla. and TAMPA, Fla. – January 15, 2021 – Berkadia announced today the sale of Standard at 2690, a 456-unit garden-style multifamily property located in Clearwater, Florida. Managing Director Jason Stanton of Berkadia’s Tampa office, and Senior Managing Director Cole Whitaker of Berkadia’s Orlando office, arranged the $57.5 million sale on behalf of the seller, Iowa-based BH Equities. The buyer was Florida-based Infiniti BH, and the deal closed on December 23, 2020.
“Standard at 2690 is a well-located asset in Central Pinellas County that has a significant amount of capital spent on repositioning the asset in the market in recent years. These improvements provide the opportunity for the new owners to come in and leverage off what has been completed and build upon the improvements in the near future, ultimately increasing value.” said Stanton.
Located at 2690 Drew St., The Standard at 2690 features one-, two- and three-bedroom floor plans with walk-in closets. Community amenities include a fitness center, a swimming pool, a playground and laundry facilities. Residents are afforded convenient access to U.S. Route 19 and the Clearwater Mall.