Edward J. DeBartolo, Jr. Of DeBartolo Holdings Acquires Eight Winds Apartments In St. Augustine For $59M

The transaction involved the sale of a multifamily asset located at 50 Wexford Way, St. Augustine. The property consists of 280 units, and the sale was executed for a total price of $59,000,000. A mortgage for $55,000,000 was secured from Goldman Sachs to facilitate the purchase. The residential complex includes seven four-story buildings, completed in 2024, and features amenities such as a clubhouse, pool, gym, and EV charging stations.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $59,000,000
• Buyer: Edward J. DeBartolo, Jr. - DeBartolo Holdings
• Seller: Frank Guerra - Altis Cardinal
• Lender: Goldman Sachs
• Units: 280
• Price Per Unit: $210,714

Edward J. DeBartolo, Jr. represented DeBartolo Holdings in this transaction, while Frank Guerra represented Altis Cardinal. The deal was notable for its value and the involvement of Goldman Sachs as a key financial partner.