Mark Rutledge Of WRH Realty Services Acquires Aspire At Gateway In Pinellas Park For $61M
5501 110th Avenue North
$61,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 19, 2025
AI
The 329-unit Aspire at Gateway apartments located at 5501 110th Avenue North in Pinellas Park sold for $61,000,000. The property spans 18.4 acres and features one- to three-bedroom units with resort-style amenities. The transaction reflects a price per unit of $185,410 and matches its 2021 sale price.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $61,000,000
- Units: 329
- Price Per Unit: $185,410
- Buyer: Mark Rutledge - WRH Realty Services
- Seller: Robert E. Hart - TruAmerica Multifamily
- Date of Sale: 12/19/2025
- Market: Pinellas Park
Mark Rutledge represents WRH Realty Services in the deal, while Robert E. Hart represents TruAmerica Multifamily. This transaction marks a significant event as it maintains the value established during its previous sale in 2021.
Pinellas Park MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93