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St. Pete apartments sell for $21M

April 14, 2020 - Franklin Street brokered the $21 million sale of Northridge Apartments in St. Petersburg. The 203-unit rental community is located at 6522 54th Ave N. There are two parcels, built in 1970 and in 1983, spread over 7.3 acres that include two swimming pools, a playground and on-site laundry facilities. The deal closed Feb. 27, according to Pinellas County property records. Franklin Street’s Tampa multifamily team, Kevin Kelleher, Darron Kattan and Zach Ames represented the seller, 6522 54th LLC,  and the buyer, Northridge SP LLC. Franklin Street’s Lonnie Kitchen provided insurance for the new buyer.  “The buyer was new to the region and outbid all local active buyers while assuming the existing loan on the property,” Kattan said in a news release.

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