Hotels get $105 million in refinancing; Launch of Motocave • St Pete Catalyst sales
A weekly roundup of local real estate offers.
St. Pete Beach hotels are being refinanced
Bellwether Beach Resort and Beachcomber Beach Resort have been refinanced for $105 million.
The refinancing was arranged by CBRE’s hotel debt and structured finance team, which secured the financing through German lenders.
Miami-based Gencom acquired the Bellwether property, formerly known as the Grand Plaza Hotel, and the nearby Beachcomber Beach Resort and Hotel for $100 million in 2019.
Both hotels have undergone renovations and upgrades. The Bellwether Beach Resort reopened in August after revamping its 156 rooms and Spinners restaurant. Meanwhile, the Beachcomber has added indoor dining space.
Clearwater apartments sell for $75.5 million
Bedrock Holdings II LLC has sold the Bay Cove Apartments to New York-based CLPF Bay Cove LLC in a $75.5 million deal.
The 402,484-square-foot facility at 19135 U.S. Highway 19 N. features one- to four-bedroom apartments, with the largest measuring 1,500 square feet.
The resort, built in 1971, features screened patios and balconies and newly redesigned kitchens. Amenities include three outdoor pools and a fitness center, according to a resort description.
The group applies for an environmental permit for Art House
Kimley-Horn Associates, on behalf of its client Kolter Urban, part of the Kolter Group, submitted an Environmental Resources Permit in the Southwest Florida Water Management District for the construction of the Art House.
The Art House is a 42-story condo tower that would be built at 200 Central Ave., which is currently used as a parking lot.
The permit is for the construction of a 246 unit “minimal impact” condominium and retail building on a 1.26 acre site.
The development would be constructed in one phase and would contain an underground stormwater management system as required, as requested.
Kolter recently launched sales for the residential units, which include 244 luxury residences and three floors of penthouses (original plans called for two floors of penthouses).
The entire $140 million tower development will include 6,100 square feet of retail space and a 482-space parking garage, according to the latest plans.
Amenities for condo residents will include a coworking space called The Hub located on the lobby level, a state-of-the-art fitness center with high-tech cardio and weight-training equipment, personal training, and movement under glass. studio, a theatre, a games room with a simulator, a covered outdoor dog park and a clubhouse with bar.
The tower is expected to be completed in 2024.
Tierra Verde estate sells for $9.95 million
The 10,238 square foot estate at 1997 Oceanview Dr. has a new owner.
Monica Payraudeau has sold the Tierra Verde waterfront home in a $9.95 million deal to Naples-based Rivage Investment.
Dania Perry of Century 21, who represented Payraudeau, said the seller listed the house because she wanted to be closer to her family. Perry was not free to discuss buyer information. Robyn Gunn of Premier Sotheby’s International Realty represented the buyer.
The seven-bedroom, eight-and-a-half-bath estate features 23-foot high ceilings and large windows to capture the expansive gulf views.
Some of the must-see features include a double-sided circular staircase separating the two floors and an 800-bottle climate-controlled wine cellar.
Six of the bedrooms have waterfront views. There is also an upper-level games/entertainment room with a dedicated kitchen, according to the listing.
Outside, there is an 1,800 square foot covered travertine marble terrace with an outdoor kitchen/bar area and a gas fireplace alongside an infinity pool with a swim-up bar.
The estate also has a composite dock with a 20,000 pound boat lift and wet dock.
The home, built in 1999, was last sold in 2013 for $4.45 million.
Commercial launch of Motocave
Sales have started for St. Petersburg’s first-ever luxury car condominium community.
Motocave Tampa Bay, located at 2051 Gandy Blvd., will feature 43 car condos spread across five buildings.
the St. Pete Catalyst first broke news of the project last year. The concept was created by prominent real estate developers Bowen Arnold of Tampa-based DDA Development, Scott Clendening of St. Petersburg Commercial Partners Realty and Matt Mosk of Largo-based Mosk Development Co., one of the largest developers industrial and commercial of Pinellas. County.
Units will range from 918 to 1,591 square feet and are customizable as some users may want to have a steel mezzanine that leads to a loft and elevators to create room for additional vehicles.
The project will also include a 2,200 square foot community pavilion.
Construction is expected to begin this third quarter and will take about a year to complete.
Skyway Marina apartment complex sells for over $123 million
The Addison Skyway Marina apartment complex, one of the most significant developments to take shape in the Skyway Marina area, has been sold.
ContraVest Development Partners has sold the 308-unit Class A rental apartment complex to TMP Skyway Marina Project LLC in a $123.2 million deal. The LLC is connected to Denver, Colorado-based Treeline Partners, according to public records. Treeline Partners is a private real estate asset management company.
The buyer also took out an $86.24 million mortgage from WSCO Core Lender LP.
The luxury apartment community opened in 2021 on the site of a long-abandoned Kmart at 34th Street South and 38th Avenue at 3951 34 St. S.
Today, the complex consists of three four-story buildings and two two-story carriage buildings, with attached and detached garages. Units range from studios to three-bedroom units, featuring granite countertops, wood floors, and balconies or terraces.
Sale of apartments in St. Petersburg
The apartment complex at 1750 2nd Ave. N. in St. Petersburg was sold for 1.65 million dollars.
Zhukovskyi USA LLC sold the property to Niu Jitao.
The property appraiser portal indicates that the property is vacant land; however, the images show a residential structure.
Anatolii Zhukovskyi, of Zhukovskyi USA LLC, had previously proposed building a five-story multi-residential complex on the site with 33 studio apartments. The project was estimated at $2.3 million.
He also proposed building a second structure at 1735 1st Ave. N. which would consist of 50 one-bedroom apartments.
Buccaneers chairman’s group buys St. Pete Beach resort for $84.2 million
The historic Dolphin Beach Resort in St. Pete Beach is now owned by Tampa Bay Buccaneers co-owner and co-president Bryan Glazer.
SCG Beach Hospitality LLC, which is owned by Glazer, purchased the resort under an $84.2 million deal with Dolphin Holdings Limited Inc., according to Pinellas County records.
The buyer also took out a $58.5 million mortgage with the Fifth Third Bank National Association.
The 173-room resort located at 4900 Gulf Blvd. is a three-star establishment located directly on the beach and equipped with a few facilities. It was built in 1966 and offers gulf-view balconies and poolside cabana rentals.
Glazer plans to renovate the complex.