Covenant Capital Group Acquires St. Petersburg Multifamily For $55.3M

1699 68th Street N., a multifamily property located in St. Petersburg, was recently sold in a transaction facilitated by Jason Stanton & Cole Whitaker of Berkadia. The property was acquired by Covenant Capital Group, LLC from GMC Properties for a price of $55,330,000. With a total of 477 units, the per unit price amounts to $115,996.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $55,330,000
• Units: 477
• Price per Unit: $115,996
• Address: 1699 68th Street N., St. Petersburg
• Market: St. Petersburg
• Buyer: Covenant Capital Group, LLC
• Seller: GMC Properties
• Brokers: Jason Stanton & Cole Whitaker - Berkadia

This transaction represents a significant investment in the St. Petersburg market, showcasing the continued demand for multifamily properties in the area. Covenant Capital Group, LLC, guided by their reputable brokers Jason Stanton & Cole Whitaker, seized the opportunity to expand their portfolio with the acquisition of 1699 68th Street N.