TARPON SPRINGS, FLA. — DDA Development, in partnership with Backstreets Capital and Atlantic American Partners, has sold Icaria on Pinellas, a 236-unit, Class A apartment complex in Tarpon Springs. The sales price was $65.7 million, or $278,179 per unit. Washington, D.C.-based RSE Capital Partners was the buyer. Walker & Dunlop represented the sellers.
Located on 6.5 acres at 1185 South Pinellas Ave., Icaria on Pinellas offers a mix of one-, two- and three-bedroom units. The apartments feature nine-foot ceilings, granite countertops, hardwood-style flooring, walk-in closets and stainless steel appliances. Community amenities include a clubhouse, outdoor grilling stations, pool with lounge and veranda spaces, 24-hour emergency maintenance, fitness center, bike storage and poolside yoga lawn and a fire pit. Built in October 2020, the property is fully leased.