Ric Campo Of Camden Property Trust Acquires Multifamily Complex In Clearwater For $109M
19355 Us Highway 19 N
$109,000,000
Building Size
—
Asset Type
MultiFamily
Closing
May 29, 2025
AI
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
Clearwater 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