James O. Buckingham Of TA Realty Acquires Madison Gateway Apartments From Stephen M. Spaeder For $97M

The multifamily property at 500 Trinity Lane North, located in St. Petersburg, features 314 units and spans 14.35 acres. The transaction was finalized on 10/17/2025, with a sale price of $97 million, translating to $308,917 per unit. This property was constructed in 1997 and underwent renovations in 2012 and 2019, and includes amenities such as a pool, gym, and dog park.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $97,000,000
• Units: 314
• PPU: $308,917
• Buyer: James O. Buckingham - TA Realty
• Seller: Stephen M. Spaeder - Equus Capital Partners
• Market: St. Petersburg
• Acreage: 14.35

James O. Buckingham represented TA Realty in the acquisition of the property from Stephen M. Spaeder, who represented Equus Capital Partners. The deal adds significant value to TA Realty's multifamily portfolio in a growing market region.