Castle Lanterra Competed With Multiple Bidders to Win Clearwater Apartment

Rent growth is very strong in the entire Tampa MSA but particularly strong in infill locations like Central Pinellas and Clearwater.

By John McCurry | December 20, 2019 at 09:15 AM

CLEARWATER, FL—Flournoy Development Co. of Columbus, GA, hassold The Vue at Belleair, a 339-unit luxury multifamily communityin Pinellas County to Castle Lanterra Properties of Suffern, NewYork. The purchase price wasn't revealed, but Pinellas Countypublic records show it was $78 million.

The Vue at Belleair is an approximate 321,437-square-footgarden-style apartment community developed in 2019 on about a15.6-acre site at 1551 Flournoy Circle West. The property includes11 two- and four-story residential buildings with elevators, anintegrated clubhouse and detached garage buildings.

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Castle Lanterra Competed With Multiple Bidders to Win Clearwater Apartment

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