PENSACOLA, FLA. — Berkadia has brokered the sale of West Woods Apartments, a 268-unit community located at 3202 W. Nine Mile Road in Pensacola, a city in Florida’s Panhandle near the Alabama border. David Etchison of Berkadia led the transaction on behalf of the seller, Benefit Street Partners. The undisclosed buyer assumed in-place HUD financing as part of the transaction. The sales price was also not released.
West Woods was delivered in 2016 and 2017 on a 14-acre site and offers one-, two- and three-bedroom floor plans averaging 1,087 square feet in size. Amenities at the gated-community include a clubhouse, two 24-hour fitness facilities, two resort-style pools, two dog parks, a business center, playground, 24-hour pet spa, car care center, fire pit, ping pong table and detached garage rentals.
West Woods was 96 percent occupied at the time of sale.