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Places This Week: Apartment sales; St. Pete doughnut shop

Veronica Brezina

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Alta Belleair. Image: GoogleMaps.

A weekly roundup of local real estate deals.

 

Alta Belleair apartment complex sells for $64 million

White Oak Partners has purchased the Alta Belleair Apartments for roughly $64 million from Atlanta-based management group Wood Partners.

The 256-unit apartment complex at 1632 Clearwater-Largo Road was a $45 million project developed by the Pinellas Park-based Belleair Development Group.

Alta Belleair. Facebook image. 

It opened earlier this year. 

Alta Belleair has five four-story buildings and has amenities ranging from a zero-entry saltwater pool and a hammock park to a community clubhouse with a fitness center and yoga room, a billiards lounge and game room. 

White Oak Partners took out a $45 million loan from Truist Bank. 

The Ohio-based firm invests in multifamily developments.

 

Doughnut shop to open on 4th Street

Sarasota-based Five-O Donuts is planning to open at the former Uptown Snoballs shop at 1003 4th St. North.

Five-O Donuts. Facebook image.

An exact opening date has not been posted, but the new Five-O Donuts St. Pete store will open in December, according to the company’s Facebook page. 

The donut company has over two dozen doughnut flavors from common glazed and croissant doughnuts to sugary creations made with Cinnamon Toast Crunch, Butterfingers and Oreos, as well as holiday and special-themed doughnuts. 

Five-O Donuts will also be opening a new location in Ellenton in spring/summer 2023.  

 

Belleair Bluffs estate sells 

The Belleair Bluffs estate at 343 Bluff View Dr. has sold for just under $2 million. 

343 Bluff View Dr., Belleair Bluffs. Photo courtesy of Kerryn Ellson with Coastal Properties Group.

The 5,734-square-foot home, built in 2005, sits on a 0.64-acre lot. 

Inside the five-bedroom and five-bath home, the formal living room boasts 22-foot coffered ceilings and a limestone fireplace.

What’s described as a “cabana-style family room” also has lofty ceilings accented with wood beams and lighting elements from the historic Belleview Inn, according to the listing. 

The main floor features the main bedroom while the four bedrooms are upstairs, which can be accessed by the staircase or an elevator. 

343 Bluff View Dr., Belleair Bluffs. Photo courtesy of Kerryn Ellson with Coastal Properties Group.

The home also offers a pool and a three-car garage. 

The estate last sold in 2016 for $970,000. 

Kerryn Ellson with Coastal Properties Group represented the seller and the buyer. 

 

Site eyed for St. Pete apartment complex sells

The site at 770 4th Ave. N. in St. Petersburg that was planned to be developed into the “770 Apartments” project has sold. 

St. Petersburg FL 101 LLC purchased the site from a land trust entity for $7.3 million. 

The buying entity is connected to the Bradenton-based real estate investment group REM Capital. 

A rendering of the previously proposed 770 Apartments project. Image: City of St. Petersburg documents.

A site plan was reviewed in 2019 from the owners of the property to develop a new seven-story apartment building. The property is currently designed for 146 apartment units. 

St. Petersburg-based Behar and Peteranecz Architecture was the selected design firm for the previously proposed project. 

The site is bounded by 4th Avenue North and 8th Street North. 

It formerly housed CC’s Bridal Boutique, which has moved to a different location in Clearwater. 

The buyer took out a $5.77 million mortgage loan from Investment Property Exchange Services Inc. for the purchase. 

 

Westchase apartments sell for $58.55 million 

The Westchase Apartments in Largo have sold for $58.55 million to VQHS Waterchase LLC, an Ohio company.  

The 278-unit apartments at 401 Rosery Road NE range from studios to one- and two-bedroom apartments starting at 600 square feet. 

The amenities include three pools, a fitness center, a dog park and a newly-renovated clubhouse.

 The buyer took out a $53.24 million mortgage loan from American National Life Insurance Company of New York.

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