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Places This Week: Former Tech Data president sells estate, investment firm buys beach cottages

Veronica Brezina

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The Arbors Seaside Cottages. Realtor.com.

A weekly roundup of local real estate deals. 

 

Indian Rocks Beach vacation cottages are now under new ownership 

Arbors Gulfport Cottages LLC sold its luxury beachfront cottages to Indian Rocks Beach-based firm Shelton Land Investments in a $3.4 million deal. 

The Arbors Seaside Cottages is a Gulf-front micro-resort and has been elected one of Florida’s “Superior Small Lodgings” since 1999, and was also featured in USA Today.

The Arbors Seaside Cottages. Realtor.com.

The Key West-style cottages are located at 218 Gulf Blvd. in Indian Rocks Beach.

The property consists of two separate lots with four separate cottages. 

The Arbors Seaside Cottages lining the beach. Realtor.com.

The resort has one large gulf-front cottage, two quaint cottages nestled in a garden, and a two-story family lodge on the back of the property as well as a studio.  

Each cottage offers a full kitchen and furnishings. 

The resort also includes outdoor eating areas, a shuffleboard court and a community laundry facility.

The units rent for $1,000 – $1,300 weekly, according to the description. 

 

Pinellas Park apartments sell in $11 million deal 

The Le Club Villas in Pinellas Park were sold in an $11 million deal. 

Miami-based Eightfold Real Estate Capital LP bought the property at 4355 84th Ave. from Nure International LLC. 

Le Club Villas in Pinellas Park. GoogleMaps.

The residential community has 92 units that feature private entrances as the units are single-level apartment homes, according to the community’s website. 

The website also indicates the units have been recently renovated and have upgraded countertops and cabinetry. 

The community offers an on-site laundry facility and a pool. 

Eightfold Real Estate Capital assumed a $9.5 million mortgage from EMG Transfer Agent LLC. 

Eightfold invests in commercial real estate debt and equity. It also provides advisory services to borrowers. 

Most recently, Eightfold, alongside a partner, purchased the 34-story Clark Tower in Memphis in a $37 million deal. 

 

Largo Town Square sells in $8.35 million deal

Largo Town Square LLC sold the retail center to Alabama-based firm Shannon Waltchack in a $8.35 million deal. 

The 37,574-square-foot retail center is 91% leased to 14 tenants including Outback Steakhouse, Advanced Dental Care, Westshore Pizza and others. 

Shannon Waltchack is a full-service real estate firm that manages, develops and acquires properties across the Southeast.

Shannon Waltchack took out a $5.53 million mortgage from Servisfirst Bank.    

 

Artistry St. Pete apartment complex in downtown sells in $92.3 million deal 

 

Colorado-based Avanti Residential has scooped up the Artistry St. Pete apartment complex in a $92.35 million deal. 

Artistry St. Pete on Central Ave.

The sale between Avanti Residential and Indiana-based developer Milhaus closed on Dec. 3, according to Pinellas County property records. 

Artistry St.Pete, located at 1601 Central Ave. between the Grand Central District and the Edge District, is a mixed-use development that opened in 2020 with 246 apartments and 10,000 square feet of commercial space. 

Avanti took out a roughly $28.3 million mortgage loan from Berkeley Point Capital LLC for the purchase. 

Read more about the sale here. 

 

Former President of Tech Data sells waterfront estate 

A waterfront home in the Brightwaters Beach Estates subdivision has sold in a $4 million deal. 

Joseph Quaglia, former president of Tech Data, sold the estate at 504 55th Ave. in St. Pete Beach to John T. Rich Sr., who is an entrepreneur in the medical supply business. 

The home at 504 55th Ave., St. Pete Beach. Zillow.

The four-bedroom, four-bath home was originally built in 1969 and was rebuilt in 2018, according to the listing. 

The 5,138-square-foot, coastal contemporary boasts views of Boca Ciega Bay.

The home at 504 55th Ave., St. Pete Beach. Zillow.

Inside the two-story home are tall ceilings and cherrywood floors. 

The great room features an entertainment center with custom-built-ins. Meanwhile, the dining area has a custom-built-in cherrywood buffet with a wine chiller and ice maker.

The kitchen features granite counters, coastal shaker-style cabinetry and Subzero appliances. 

The home also offers a grand theater space, complemented by a separate billiards area, gaming area, a second media center and a wet bar.

The home at 504 55th Ave., St. Pete Beach. Zillow.

Outside, there is a pool and a dock with a boat lift. 

The property was listed and sold by Dania Perry of Century 21 Jim White & Associates. 

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