Subject: Divestiture
Halstatt Real Estate Partners Announces Multiple Residential Property Sales
Halstatt Real Estate Partners, a real estate private equity firm, announced increased sales and activity across all of its residential properties. Halstatt has completed four condo sales in Osprey, Fla. at its Edgewater at Hidden Bay development and closed on the sale of two properties in the Estates at Abacoa located near Jupiter, Fla.
"We are seeing increased demand across all of our Florida based residential properties. The migration trends we were seeing prior to the COVID-19 pandemic have intensified as more people have the ability to work remotely, are thinking about their next life chapter and want to avoid more densely populated areas," said Bobby Sullivan, principal, Halstatt Real Estate Partners. "We are delighted at the renewed interest in Florida and continue to see movement and opportunities within residential real estate."
Edgewater at Hidden Bay sits on a 2.8-acre parcel located within the Hidden Bay residential community in Osprey, Fla. The development consists of 36 condominium units all with direct views of Little Sarasota Bay. The community is located off of U.S. 41 and about 18 miles from the Sarasota-Bradenton International Airport. Halstatt has closed four condo sales for an average price of $600,000. To learn more about Edgewater at Hidden Bay, please click on this link.
Estates at Abacoa is an infill residential development project comprised of 13 residential lots within the master planned community of Abacoa, which is located in Jupiter, Fla. Abacoa is a premier community of around 6,000 homes in Palm Beach County, well known for its top-notch school system, the Abacoa Town Center, and its live-work-play atmosphere. The residential community is located off of I-95 and is in close proximity to Juno Beach. Halstatt recently sold two homes within the development for approximately $1M each. To learn more about Estates at Abacoa, please follow this link.
Halstatt Real Estate Partners identifies value add and opportunistic real estate projects throughout the Florida market. The company partners with qualified sponsors to develop and implement a strategic business and capital improvement plan to maximize demand driven development opportunities.
About Halstatt Real Estate Partners
Halstatt Real Estate Partners ("HREP"), a women-owned real estate private equity firm, has participated in the acquisition and development of over $850 million in Florida-based real estate assets since 2011. Founded by the Sproul family, based in Naples, Florida, and a proud part of the Barron Gift Collier legacy in Southwest Florida, HREP invests in middle market, value add and opportunistic commercial and residential real estate projects. HREP works with best-in-class local and regional operating partners to maximize the value of its real estate investments. HREP invests alongside a cross-section of institutional limited partners from fund to fund including charitable foundations and endowments, domestic and international family offices, and corporate pension funds with a history of continuity. www.halstatt.com
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