Camden Property Trust Acquires Multifamily Property In St. Petersburg For $149.7M

Camden Property Trust has acquired a multifamily property in St. Petersburg, located at 855 Central Ave. The transaction took place on August 30, 2021. The property, consisting of 368 units, was sold for a total price of $149,700,000, resulting in an average price per unit of $406,793.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $149,700,000
• Address: 855 Central Ave
• Market: St. Petersburg
• Buyer: Camden Property Trust
• Developer: Related Group
• Brokers: berkadia'>Matt Mitchell, Matthew Lawton & Zach Nolan - JLL

The successful transaction was facilitated by brokers berkadia'>Matt Mitchell, Matthew Lawton, and Zach Nolan from JLL. They represented Camden Property Trust in the deal. This acquisition marks an important milestone in Camden Property Trust's growth strategy in the St. Petersburg market.