Luxury Clearwater apartments sell for $116M+
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.
