Berkadia Arranges Sale & Financing of Class a Multifamily Community in St. Petersburg, Florida
Tampa, Florida – November 4, 2025 – Berkadia announced today the sale of Provenza at St. Pete, a Class A, 308-unit multifamily community located in the Gateway submarket of St. Petersburg, Florida.
Senior Managing Director Matt Mitchell and Director Chris Burtner of Berkadia led the transaction on behalf of the seller, Momentum Real Estate Partners of Miami, Florida. Hilltop Residential of Houston, Texas acquired the asset for an undisclosed amount. Managing Director Corby Chaffin of Berkadia Houston secured acquisition financing for the transaction. The property was 95% occupied at the time of sale.
“We are starting to see multifamily investment sales activity pick up again throughout Tampa Bay, particularly in Pinellas County, where solid fundamentals are drawing investor attention,” said Mitchell. “Compared to other submarkets, new supply in this region has been limited and rent growth is outperforming most other areas. High-quality assets like Provenza are in demand as they deliver predictable performance with limited CapEx risk.”
Built in 2014 at 540 Trinity Lane, Provenza at St. Pete is a four-story garden-style community located in the Carillon Park mixed-use master-planned development, which is home to several major residential, office and retail centers. Provenza offers a mix of one-, two- and three-bedroom units ranging from 655 to 1,376 square feet, with attached and detached garages available. Individual apartments offer stainless steel appliances, plank floors, granite countertops and dual vanities. Community amenities include a clubhouse, swimming pool, entertaining kitchen, fitness center, business center, dog park and dog wash area, and playground.
Conveniently located at the intersection of I-275, FL-686, and the Gateway Expressway, the property is less than 15 minutes from St. Pete-Clearwater International Airport, and 30 minutes to Downtown Tampa and the beaches of St. Petersburg. It is just minutes from major employers in the Carillon Business Park, including the headquarters of Raymond James, the future world-wide headquarters of Foot Locker, and a recently constructed TopGolf.
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