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Ric Campo Of Camden Property Trust Acquires Multifamily Complex In Clearwater For $109M

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SOLD
$109,000,000

Florida

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MultiFamily
Sold 05/29/2025
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Property Image
SOLD

Ric Campo Of Camden Property Trust Acquires Multifamily Complex In Clearwater For $109M

19355 Us Highway 19 N

See Similar Deals
MultiFamily
Sold 05/29/2025
the dealplayerscompscontact
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Summary

FLORIDA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily asset at 19355 Us Highway 19 N in Clearwater spans 330 units and was sold for $109,000,000, yielding a price per unit of $330,303. Built in 2019, the property includes amenities such as a pool, gym, and kayak dock.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $109,000,000
  • Units: 330
  • Price Per Unit: $330,303
  • Buyer: Ric Campo - Camden Property Trust
  • Seller: Steven DeFrancis - Cortland
  • Date of Sale: May 29, 2025
  • Previous Sale Price: $104,000,000
  • Previous Sale Year: 2020

Ric Campo represents Camden Property Trust, while Steven DeFrancis represents Cortland in this transaction. The property has been rebranded as Camden Clearwater following the acquisition.

Players

CT
Camden Property Trust
BUYER
Steven DeFrancis
Cortland
Steven DeFrancis
15 deals$1.6B volume
SELLER

Details

SOLD
IMAGE: Steven DeFrancis & Ric Campo DATE: 05/29/2025 ADDRESS: 19355 Us Highway 19 N MARKET: Clearwater ASSET TYPE: Multifamily BUYER: Ric Campo - Camden Property Trust (@CamdenLiving) SELLER: Steven DeFrancis - Cortland (@CortlandLiving) SALE PRICE: $109,000,000 UNITS: 330 ~ PPU: $330,303 NOTE: Camden Property Trust bought the 330-unit Cortland Bayside complex in Clearwater for $109M on May 22, rebranding it Camden Clearwater. The 2019-built property last sold for $104M in 2020 and includes a pool, gym, kayak dock, and other amenities. # Cortland

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$387,253.98
Cash-on-Cash Return-1.27%
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