TAMPA, Fla. and ORLANDO, Fla. – August 31, 2021 – Berkadia today announced the sale of Stillwater Palms, a 397-unit garden-style multifamily property located in Palm Harbor, Florida. Senior Director Jason Stanton of Berkadia Tampa and Senior Managing Director Cole Whitaker of Berkadia Orlando together completed the sale on behalf of the seller, Chicago and Denver-based The Laramar Group. The buyer was a California-based TruAmerica Multifamily, and the deal closed on July 30.
“Stillwater Palms represented an excellent opportunity to acquire a well-positioned community in the Palm Harbor Central Pinellas submarket with tremendous potential to build upon the capital improvements that the seller has recently completed,” said Stanton.
Located at 2480 Cypress Pond Road, Stillwater Palms features one- and two-bedroom floor plans with in-unit washers and dryers, a patio or balcony, walk-in closets and air conditioning. Community amenities include two swimming pools, a fitness center, a yoga studio, a grilling area, a pet park and a playground. The property affords residents convenient access to Honeymoon Island State Park and the shops and restaurants along U.S. Route 19.