Camden Property Trust Acquires Mixed-Use Property In Saint Petersburg For $149M

Icon Central is a 368-unit, 15-story mixed-use residential tower located at 855 Central Ave, in St. Petersburg, Florida. The property was sold for $149,000,000.00 to Camden Property Trust. Developed by Related Group in 2019, the building encompasses around 35,000 square feet of ground-floor retail space. The residential apartments feature private balconies, stainless steel appliances, kitchen islands, full-size washer and dryer, and electronic key-fob entry. Amenities at Icon Central include a pool, fitness center, sauna, steam room, spa, private clubroom, movie theater, game simulator, and a rooftop terrace with various facilities.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $149,000,000.00
• Seller's Representative: Matt Mitchell from Hall Structured Finance
• Buyer: Camden Property Trust
• Market: Saint Petersburg
• Additional Note: Tricera Capital acquired the ground floor retail for $11.1 million, along with the Union Trust Bank building.

JLL played a significant role in facilitating the sale of Icon Central. The seller, Related Group, was represented by Matt Mitchell, Matthew Lawton, and Zach Nolan from JLL. On the other hand, Camden Property Trust made the acquisition. Additionally, Tricera Capital acquired the ground floor retail along with the Union Trust Bank building for $11.1 million.