facebook


Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Florida

/

Multifamily

/

Sale

/

391 112th Avenue North

Updated Aug 26, 2026

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

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

391 112th Avenue North

$58,000,000

Units

264

Asset Type

MultiFamily

Closing

Aug 26, 2026

About this deal

AI

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.

On the Map

Open live map

$58,000,000

MultiFamily

View full map

Players

Stephen Ho

Spira Equity Partners

Buyer

$167.7M

vol

4 deals

Buyer
FH
Foundation for Affordable HousingSeller
Bilt advertisement

North MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Deal FAQ

About $219.7K per unit across 264 units on a published $58M (2026).

Visit Stephen Ho to view all their deals.

Browse Florida multifamily sales on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.27%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets