Subject: RLE
JBM Sells The Park at Treviso - Apartments in St. Petersburg, Florida
ST. PETERSBURG, Fla., Sept. 7, 2022 /PRNewswire/ -- JBM® Institutional Multifamily Advisors brokers the sale of The Park at Treviso (now, The Morgan) ? a 304-unit, garden-style multifamily community. The Property was built in 1972, features large floorplans averaging 1,038 square feet, and has a desirable, low-density site plan of just 14.36 units per acre.
The Park at Treviso offers an array of community amenities, including pristine lake views; three resort-style pools; brand new poolside lounge chairs with shaded awnings; fitness center overlooking the pool with an attached children's playroom; multiple picnic areas with barbecue grills and plenty of green space; community clubhouse with coffee station; business center; and multiple on-site laundry facilities.
Units at The Park at Treviso are primed for additional value-add renovations. Currently, units feature fully equipped, contemporary kitchens with white appliances, designated pantries, Formica countertops, and tile backsplash; carpet in living rooms and bedrooms, with select units including luxury faux wood plank flooring; lots of extra storage, including walk-in closets; ceiling fans; sliding glass patio doors; large bathroom makeup vanity area with oversized mirrors; and vaulted ceilings in select units.
Ideally located in south St. Petersburg, Florida, The Park at Treviso offers numerous locational benefits to both entertainment as well as nearby employment centers. The St. Petersburg/Tampa MSA currently ranks #7 in the country for year-over-year rent growth at 24%. The Property has excellent connectivity, with proximate access to Interstate 275. In addition, St. Pete Beach ? the U.S.' #1 Beach in 2021 ? is just a 10-minute drive away, Downtown St. Petersburg is only 6 miles northeast of the Property, and two Publix Super Markets are located within just one mile. Nearby major employers include John Hopkins All Children's Hospital, ARK Invest, Jabil, Home Shopping Network, Bayfront Health, Raymond James, and many others.
JBM® is the #1 ranked boutique brokerage firm in the U.S. Despite only transacting in Florida, JBM® was ranked the #12 multifamily broker by sales volume throughout the entire U.S. according to Green Street's mid-year 2022 rankings. Amongst brokers with multiple transactions, JBM® ranks #1 for Highest Average Sold Price across the country.
SOURCE JBM Institutional Multifamily Advisors
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