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5501 110th Avenue North

Mark Rutledge Of WRH Realty Services Acquires Aspire At Gateway In Pinellas Park For $61M
SOLDMultiFamily

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.

Players

WS
WRH Realty ServicesBuyer

Robert E. Hart

TruAmerica Multifamily

Seller

$912.1M

vol

11 deals

Seller

Pinellas Park 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

0.26%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93