Newly built Clearwater apartments sell for $116 million
By Breanne Williams
Tampa Bay Business Journal
Published: Dec 21, 2021

An Atlanta developer has sold off a newly built apartment complex in Clearwater for more than $116 million.

Wood Partners sold the 314-unit Alta Clearwater at 1320 Sands Terrace East for $116.25 million, according to Pinellas County property records. The buyer is Colorado-based Black Creek Group.

The purchase price breaks down to $370,222 per apartment — a price range that, until recently, was reserved for luxury high-rise apartment properties in the Tampa Bay area.

The complex lies along U.S. Highway 19 and has one- to three-bedroom apartments among 10 four-story buildings.

The community has a pool, fitness center, hammock park, business center, outdoor kitchen and grilling area, pet park and an outdoor fitness facility. Certain apartments within the facility have premium additions like a smart lock keyless entry system and oversized balconies.

Black Creek Group owns 1.2 million square feet of multifamily properties, according to its website. Its portfolio consists of a variety of luxury mid-rise communities with a range of 200 to 600 units.