Greystar Offloads 330-Unit Davenport Multifamily Property
Katz Properties has paid $70 million for The Ridge at Champions, a 330-unit multifamily property in Davenport, Fla. Commercial Edge reports the firm also took out a $38.5 million acquisition loan from United of Omaha Life Insurance Co.
Greystar, the seller, completed the multifamily development in 2023 using funds from a $42.7 million construction loan originated by SouthState Bank in October 2021. The unit mix consists of one-, two-, and three-bedroom floor plans, ranging from 798 to 1,245 square feet. Select layouts have private balconies or patios.
Common-area amenities include a fitness center with cardio studio, outdoor lounge and kitchen with grilling stations, swimming pool with sundeck and a clubhouse with lounge and business center. The property also has EV charging stations.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout