SELA Realty Investment Acquires 188-Unit Multifamily Property In Clearwater For $28.25M

The property asset involved in the transaction is a multi-family apartment complex known as The Enclave at Northwood, located at 2690 Enterprise Road East in Clearwater. The complex consists of 188 units and spans across 20 acres. The sale was finalized for a total of $28,250,000, which equates to a price per unit of $150,266.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $28,250,000
• Buyer: SELA Realty Investment
• Seller: SITRE Clearwater LLC
• Brokers: Justin Hofford, Kevin Mosher & Luis Elorza - NorthMarq
• Lender: Raymond James Bank
• Units: 188
• Acres: 20

The deal was facilitated by NorthMarq’s Tampa Investment Sales team, with SELA Realty Investment, based in New Jersey, planning to hold the property long-term, citing its prime location and appeal to tenants as significant factors in their acquisition strategy.