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Luxury Clearwater apartments sell for $116M+

Veronica Brezina

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The Alta Clearwater apartments. GoogleMaps.

A Colorado real estate firm has acquired the luxury Clearwater Alta apartment complex in a $116.25 million deal. 

The entity Adrex Clearwater DST, connected to the Denver, Colorado-based Black Creek Group, purchased the community at 1320 Sands Terrace East from Atlanta-based Wood Partners.

Wood Partners opened the luxury community in June. The development, which fronts U.S. Highway 19, has a total of 314 residences in 10 buildings with units consisting of one-, two- and three-bedroom floorplans.

The kitchens feature white quartz countertops, soft-close cabinetry with under-cabinet LED lighting, a stainless-steel Whirlpool appliance package and wood-inspired plank flooring throughout, according to its description. 

Select units feature oversized balconies, double vanities and other premium touches, including Smart Lock keyless entry systems. 

The amenities include a resort-style pool with a shaded pavilion and private poolside cabanas, an outdoor kitchen and grilling area, an outdoor fitness area, a hammock park, a pet park complete with a pet wash area and a 24/7 fitness studio that features a virtual training room. 

A representative from the Black Creek Group was not available for comment; however, the group’s multifamily portfolio states BCG invests in higher-end, suburban-garden, and mid-rise communities with 200-600 units that are located in supply-constrained areas with strong demographics. 

Black Creek Group was recently acquired by Ares Wealth Management Solutions LLC. 

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