ST. PETERSBURG, FLA. — Denver-based Avanti Residential has purchased Artistry, a 246-unit apartment community in downtown St. Petersburg, for $92 million. Patrick Dufour and Andrew Visnick of Newmark represented the seller and property developer, Indianapolis-based Milhaus Development, in the transaction. Charlie Williams of Newmark arranged an acquisition loan through Freddie Mac.
Built in 2020, Artistry offers studio, one-, two- and three-bedroom floorplans. Units feature in-unit washers and dryers, walk-in closets and a tub and shower. Community amenities include a pool, fitness center, elevator, controlled access, grill, pet play area, pet washing station and 10,000 square feet of onsite retail space. The project was fully leased at the time of sale.
Located at 1661 Central Ave., the property is situated close to the Imagine Museum, a glass art museum, as well as restaurants such as The Burg Bar & Grill, Half Baked Potato, Brooklyn South and Ferg’s Sports Bar & Grill. Additionally, the property is less than a half-mile from Tropicana Field, home ballpark of the Tampa Bay Rays.