ST. PETERSBURG, FL-Crosswind Apartment Homes has sold for $13.1 million. The 208-unit apartment property was built in 1986-87.
Cole Whitaker, a partner at Hendricks & Partners who heads the Southeast Division of the firm, along with associate partner Hal Warren, represented the seller, Chicago-based Equity Residential. Nashville-based Covenant Capital Group LLC acquired the property.
“For the past few years, you couldn’t do a value add because the rents weren’t there,” Warren says. “In this case, the asset interiors have not been upgraded. The buyer plans to do a substantial interior and exterior rehab.”
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