Stephen Ho & Robert Lee Of Spira Equity Partners Acquire Wyngate Apartments From Darrin Willard For $58M

The transaction involved the sale of the Wyngate Apartments, a 264-unit multi-family property located at 391 112th Avenue North in St. Petersburg, FL. The asset spans 22.5 acres and features a mix of one-, two-, and three-bedroom units across 10 buildings. The sale was completed for $58 million, translating to a price per unit of $219,697.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $58,000,000
• Address: 391 112th Avenue North
• Market: St. Petersburg, FL
• Units: 264
• Price Per Unit: $219,697
• Acres: 22.5
• Buyer: Stephen Ho & Robert Lee - Spira Equity Partners
• Seller: Darrin Willard - Foundation for Affordable Housing

The acquisition was made by Stephen Ho and Robert Lee, representing Spira Equity Partners, from Darrin Willard of the Foundation for Affordable Housing. This transaction signifies the continued investment in affordable housing solutions within St. Petersburg.