Clearwater apartments sell to Los Angeles investment firm
By Breanne Williams
Tampa Bay Business Journal
Published: Jan 23, 2023

A Los Angeles-based multifamily investment firm has acquired The Four Lakes at Clearwater apartment complex.

An entity linked to TruAmerica Multifamily purchased the 461-unit community for approximately $69.4 million, according to a Pinellas County deed. The sale price breaks down to roughly $150,544 per unit. According to the deed, the seller was New York-based Investcorp International Realty.

The 36-acre community at 6465 142nd Ave. N was built in 1985 and has 44 two-story buildings. According to TruAmerica Multifamily’s website, the property features a mix of studio, one- and two-bedroom apartments with floor plans averaging 806 square feet.

Amenities include two swimming pools, two clubhouses, two dog parks, two fitness centers, a beach volleyball court, tennis courts and an outdoor grilling area and firepit.

Four Lakes at Clearwater lies within the Gateway/Carillon Office Market and is 10 minutes from theCarillon Office Park, which is home to Raymond James Financial and Franklin Templeton Investments.

TruAmerica Multifamily was founded in 2013. The company has acquired 241 properties and has 269 assets under management. It manages a $16.1 billion portfolio of more than 55,600 units across the U.S., according to its website. The company specializes in repositioning Class B apartments by “selectively acquiring, renovating and effectively managing multifamily properties.”