Provenza-St.-Pete

Berkadia Arranges $70 Million Sale in St. Petersburg, Florida

by Lynn Peisner

ST. PETERSBURG, FLA. — Berkadia has arranged the sale of Provenza at St. Pete, which Houston-based Hilltop Residential has acquired and rebranded Palmera Gateway. Momentum Real Estate Partners of Miami was the seller. The Tampa Bay Business Journal reports the asset traded for approximately $70.3 million. The 308-unit property, 95 percent occupied at the time of sale, was built in 2014 in the Carillon Park mixed-use master-planned development. The garden-style community offers a mix of one-, two- and three-bedroom units ranging from 655 to 1,376 square feet with attached and detached garages available. Amenities include a clubhouse, a pool, an entertaining kitchen, a fitness and business center, a dog park and wash and a playground.

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