Covenant Capital Group Acquires Port St. Lucie Multifamily For $41.5M

The multifamily asset located at 1900 SE Hillmoor Drive in Port St. Lucie has been sold for a price of $41,550,000. The property consists of 230 units, with an average price per unit of $180,652. The transaction took place on March 30, 2021.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $41,550,000
• Date: 03/30/2021
• Address: 1900 SE Hillmoor Drive
• Market: Port St. Lucie
• Buyer: Covenant Capital Group
• Seller: Investors Management Group, Inc. - Karlin Conklin
• Broker: Darron Kattan - Franklin Street
• Units: 230
• Price Per Unit: $180,652

The buyer of the property was Covenant Capital Group, while the seller was Investors Management Group, Inc., represented by Karlin Conklin. The transaction was facilitated by Darron Kattan of Franklin Street.