Franklin Street brokers sale of $7.2M Pinellas portfolio
October 17, 2019 - Franklin Street brokered the sale of four apartment communities in St. Petersburg and Clearwater. The properties are: Gateway Place at 528 88th Av. N., Delmar Terrace at 433 Delmar Terrace S., and Tropic Aire at 135 8th Ave. N.E., all in St. Petersburg; and Lakeview/Westbridge on South Betty Lane in Clearwater. The total portfolio sold for $7.193 million, or $80,820 per unit, Franklin Street said. The properties were sold by an estate that was liquidating assets and were purchased in four separate transactions involving two New York-based buyers and one local buyer. Franklin Street Real Estate Services in Tampa represented all three private buyers, and Franklin Street Insurance Services insured three of the four assets involved.