Dunedin apartments sell to Nashville investor for $14.6 million
By Breanne Williams
Tampa Bay Business Journal
Published: Dec 13, 2023

Whispering Hills Apartments in Dunedin have sold to a Nashville-based real estate investment manager for $14.6 million.

The 160-unit community at 612 Bass Court sold on Nov. 30, according to a deed filed in Pinellas County. The seller is an entity linked to Indianapolis-based Dominion Realty, and the buyer is an entity linked to Covenant Capital Group. The sales price breaks down to approximately $91,250 per unit.

Covenant Capital Group could not immediately be reached for comment.

The community offers one-, two- and three-bedroom units ranging from 610 to 1,211 square feet, according to its website. The complex has one- and two-bedroom garden apartments as well as three-bedroom townhouses. The apartments feature private patios and spacious closets.

Amenities for the community include a large playground. Whispering Hills Apartments are pet friendly with breed restrictions.

The apartments are less than a mile from downtown Dunedin.

Covenant Capital Group is a “real estate value-add investment manager with an exclusive focus on the acquisition and renovation of apartment communities,” according to its website. The group has more than $2 billion in real estate assets under management and has completed more than 430 transactions.

The group was founded in 2001 and is co-managed by partners Rick Scarola and Govan White.