Berkadia Brokers $50.1M Sale of Apartment Community near Tampa Bay
CLEARWATER, FLA. — Berkadia has brokered the $50.1 million sale of Estates at Countryside, a 320-unit apartment community located at 2652 N. McMullen Booth Road in Clearwater. The buyer, an affiliate of Insula Cos., plans to improve the property’s energy and water usage. Mitch Sinberg and Matt Robbins of Berkadia’s South Florida office arranged a $37.2 million, 10-year, floating-rate loan through Freddie Mac’s Green Up program on behalf of Insula Cos. Built in 1990, the property is situated about 21 miles from downtown Tampa on the other side of Old Tampa Bay. Estates at Countryside comprises one-, two- and three-bedroom apartments with vaulted ceilings, sunrooms, walk-in closets and washer/dryer units. Community amenities include a fitness center, spa, pool and a playground. Jason Stanton and Cole Whitaker of Berkadia represented the buyer in the transaction. The seller was not disclosed.