Boston, MA. November 29, 2017: Tidegate Capital announced that it has acquired the Class B, 33-unit Vinoy Park Apartments at Beach Drive in Historic Downtown St. Petersburg, Florida -- its fourth acquisition in the area.
Using proprietary underwriting and a comprehensive due diligence process, Tidegate Capital performed a thorough review before acquiring this opportunity. “This unique property is located in one of the best locations in all of St. Petersburg. It is one block from the Bay and in an area of upscale homes, making for an ideal value-add play. This will be a very desirable property for both our residents and investors as we continue to make improvements to curb appeal and interior renovations,” said Colin O’Keeffe, Principal of Tidegate Capital.
The Transaction closed on November 13, 2017; however, a few investor spots remain, and we are looking to fill out the equity raise. Please contact us if you would like to learn more about this exciting opportunity.
The Tidegate Capital executive team has significant experience in the multifamily sector and seeks to expand its portfolio of Class B/C workforce housing in the Tampa-St. Pete MSA and beyond. Tidegate Capital is also looking to expand its relationships with Family Office and High Net Worth sources as it grows its portfolio of properties.
The property is managed by Palm Communities, based out of of Tampa, an experienced site manager in the multifamily space: rentpalm.com