Located at 151 7th Street South, which is across the street from a recently-built Publix, The Hermitage Apartments is within walking distance from office buildings, restaurants, entertainment, museums, and abundant green space, including a seven-mile string of beautifully manicured parks.

“We were able to successfully develop a project that was truly unique and unlike any other mixed-use development in St. Petersburg to inspire the gentrification of the city's Arts District and celebrates its surroundings, said W. Allen Morris, chairman and CEO of The Allen Morris Co. at the time of the property's sale earlier this year. “The sale of such a transformative development is a testament to the value the project brings to the community and we're proud that it will be enjoyed for generations to come and are grateful to have had the support of a collaborative effort with the city leadership throughout the process.”

Among the amenities at the community include a rooftop resort style pool and hot spa, state-of-the-art gym, outdoor kitchen and sky deck, library and demonstration kitchen, pet spa, courtyard oasis with large outdoor fireplace, electric car charging stations, and an eight-floor gated resident parking garage.

Bethesda, MD-based Walker & Dunlop structured the financing for Brass Enterprises with Fannie Mae. Real estate investment firm Brass Enterprises acquired the recently developed 348-unit community in January from The Allen Morris Company of Coral Gables, FL in a deal valued at $107.6 million.

Alison Williams and Matt Baldwin, both Tampa-based members of Walker & Dunlop's Capital Markets team, completed the debt transaction on behalf of Brass Enterprises. The property was marketed and sold by Brian Moulder and Chris Chadbourne of Walker & Dunlop Investment Sales, who represented Allen Morris Co.

“We are very excited about the acquisition of a premier asset in one of the nation's strongest and fastest-growing markets. The Hermitage is future-proof, boasting an unrivaled location in the heart of Downtown St. Petersburg's Art District, high quality construction, and state-of-the-art, resort-style amenities,” says Yisroel Weiser, vice president of Brass Enterprises.

Located at 151 7th Street South, which is across the street from a recently-built Publix, The Hermitage Apartments is within walking distance from office buildings, restaurants, entertainment, museums, and abundant green space, including a seven-mile string of beautifully manicured parks.

“We were able to successfully develop a project that was truly unique and unlike any other mixed-use development in St. Petersburg to inspire the gentrification of the city's Arts District and celebrates its surroundings, said W. Allen Morris, chairman and CEO of The Allen Morris Co. at the time of the property's sale earlier this year. “The sale of such a transformative development is a testament to the value the project brings to the community and we're proud that it will be enjoyed for generations to come and are grateful to have had the support of a collaborative effort with the city leadership throughout the process.”

Among the amenities at the community include a rooftop resort style pool and hot spa, state-of-the-art gym, outdoor kitchen and sky deck, library and demonstration kitchen, pet spa, courtyard oasis with large outdoor fireplace, electric car charging stations, and an eight-floor gated resident parking garage.