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

855 Central Avenue
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This MultiFamily property located in FL was sold for $149,700,000 over 2 years ago. The brokers of the deal were Zach Nolan, Matt Mitchell, and Matthew Lawton

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: Matt Mitchell, Matthew Lawton & Zach Nolan - JLL

The successful transaction was facilitated by brokers 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.

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Deals
  • Location
    855 Central Ave, St. Petersburg, FL, USA855 Central Ave, St. Petersburg, FL, USA
  • Sale Price
    $149,700,000$149,700,000
    $65,428 PPSF$65,428 PPSF
  • Area
    2,288 SF2,288 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    3 Brokers, 2 Agencies3 Brokers, 2 Agencies

Agents

Zach Nolan

Zach Nolan

Deals3
Sold$283.5M

Matt Mitchell

Matt Mitchell

Deals4
Sold$433.5M

Matthew Lawton

Matthew Lawton

Deals5
Financed$570.4M

Agencies

JLL

JLL

Agency
Deals5579
Volume$332.6B

Berkadia

Berkadia

Agency
Deals1087
Volume$45.7B

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Deal Summary

SALE IMAGE: Jeff Blau, J.P. Perez, Stephen Ross & Jorge Perez DATE: 08/30/2021 ADDRESS: 855 Central Ave MARKET: St. Petersburg ASSET TYPE: Multifamily BUYER: Camden Property Trust DEVELOPER: Related Group BROKERS: Matt Mitchell, Matthew Lawton & Zach Nolan - JLL SALE PRICE: $149,700,000 UNITS: 368 ~ PPU: $406,793

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