TRIG Group Buys Tampa-Area Asset
McCann Investments sold the 2016-completed community.
TRIG Investment Group has acquired Aura @ 4th, a 150-unit multifamily community in St. Petersburg, Fla., from McCann Investments. Northmarq brokered the transaction.
Yardi Matrix data shows that in 2017, the asset became subject to a $18.4 million CMBS loan maturing in 2027, originated by Berkadia.
Completed in 2016, Aura @ 4th encompasses five buildings with one- and two-bedroom floorplans, ranging from 881 to 1,386 square feet. Apartments feature stainless-steel appliances, walk-in closets and in-unit washers and dryers, along with private balconies or patios for select units. Common-area amenities include a swimming pool, a clubhouse, a 24-hour fitness center and grilling areas, as well as a dog park and cyber café.
Located at 10980 Oak St. NE, the community is in the heart of the Gateway Business District which boasts more than 60,000 jobs. The property is 7 miles north of downtown St. Petersburg and roughly 15 miles from downtown Tampa. The immediate area has numerous retail and dining options.
Associate Vice President Justin Hofford and Managing Director Louis Elorza, along with Associate Kevin Mosher, led the Northmarq team that facilitated the transaction. In prepared remarks, Elorza mentioned proximity to large employers and value-add potential as important advantages of the asset, while Hofford pointed out the community’s infill location.