Best Real Estate Deals: Trellis at the Lakes in St. Pete is a multifamily deal of the year
By Breanne Williams
Tampa Bay Business Journal
Published: Dec 17, 2021

Stoneweg US LLC was able to enter the Tampa Bay market — where its headquarters are located in St. Petersburg — with the acquisition of Trellis at the Lakes.

Located in the middle of the Gateway submarket in St. Petersburg, the property spans 57.33 acres and features 688 units.

The fact Stoneweg was presented with this deal before it hit the market is a testament to “not only the strength of the industry partnerships we’ve cultivated over the years, but also speaks volumes to our capabilities as a team,” honorees said.

Despite working in the middle of the pandemic they were able to close the deal quickly and effectively in late 2020. The company plans to expand the amenities at Trellis at the Lakes, upgrade the units and reinvigorate the external property.

Key players

Developer: Stoneweg US LLC: Patrick Richard, Ryan Reyes, Mike Cacciatore, Brandon Rosser and Evie Law

Brokerage firm: Newmark Group Inc: Patrick Dufour, Ryan Crowley, Andrew Visnick, Pibu Aulakh, Matt Williams, James Maynard, Steve Comly and Adam Randall

Law firm: Eversheds Sutherland: David Reid

Critical team: Stoneweg - Ryan Reyes, EVP & chief investment officer; Brandon Rosser, EVP & chief legal officer; Mike Cacciatore, director of acquisitions; Evie Law, senior asset manager

Big numbers

$114 million: Cost of the project

57.33: The number of acres Trellis at the Lakes spans

45: The approximate number of days they had to complete the acquisition of the property

Big challenge

“Because this deal was brought to us prior to it reaching market, the [purchase and sale agreement] for Trellis at the Lakes was executed on September 24, 2020, with a target close date of Nov. 5, 2020, essentially providing less than 45 days to complete the acquisition of this 688-unit institutional-grade asset.”