Pinellas Park apartments sell for $109 million
By Breanne Williams
Tampa Bay Business Journal
Published: Sep 13, 2023

A New York-based real estate firm has acquired a Pinellas Park apartment complex for $108.6 million.

The Praedium Group acquired Rowan Pointe Apartments, formerly The Livano Park Boulevard, on Sept. 12, according to a deed filed in Pinellas County. The seller was Birmingham-based LIV Development. In total, the complex has 349 units.

The sales price breaks down to approximately $311,174 per apartment. LIV Development purchased the nearly 20-acre site, located at 7950 Park Blvd., in September 2020 for $9.2 million. The apartments were delivered in 2022.

The Praedium Group secured a $57 million mortgage from Northwestern Mutual Life Insurance Co., according to public documents.

The complex features one-, two- and three-bedroom floor plans. Amenities include a fitness center with a yoga training center, a resort-style pool, pet spa, sky lounge and private office space.

The apartments are 4 miles from HCA Florida Northside Hospital, just over 5 miles from Honeywell and 10 minutes from The Shoppes at Park Place and Tyrone Square.

The Praedium Group purchased another apartment complex from LIV Development in August for $83.75 million.