Updated Jun 3, 2025
Gregory Bates Of GID Acquires Windsor Central Arts Multifamily In St. Petersburg For $104.5M
151 7th Street South
$104,500,000
Units
348
Asset Type
MultiFamily
Closing
May 30, 2025
About this deal
AI
The multifamily asset located at 151 7th Street South in the St. Petersburg market was sold for $104,500,000. This 348-unit complex has been renamed Windsor Central Arts and features amenities such as a rooftop pool, gym, and ground-floor retail. The buyer in this transaction is GID, while the seller is Brass Enterprises. A loan of $75.3 million was secured from Walker & Dunlop to facilitate the purchase.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $104,500,000
- Buyer: Gregory Bates - GID
- Seller: Ephry Merkur - Brass Enterprises
- Lender: Walker & Dunlop
- Units: 348
- Price Per Unit: $300,287
This transaction was represented by Gregory Bates for GID and Ephry Merkur for Brass Enterprises. The deal closed on May 30, 2025, marking a significant event in the local real estate market.
Players
Saint Petersburg MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93