Gull Harbor condominium interest in North Redington Beach sold

TAMPA, FLA. October 28, 2020 – JLL Capital Markets announced today that it has closed the sale of the bulk condominium interest in Gull Harbor, a multi-housing property located at 17105 Gulf Blvd. in North Redington Beach, Florida.

JLL closed the property sale on behalf of InvestRes to an undisclosed buyer.

The buyer completed a bulk purchase of 237 units, or 90.1%, of the 263 units at Gull Harbor. The property offers residents several floor plans within one-, two- and three-bedroom apartments. All units feature an updated kitchen and modern finishes, and the community offers top-of-the-line amenities such as two pools, a sundeck, fitness center, library, sports lounge and breathtaking views of both the intercoastal waterway and the Gulf of Mexico. 

Located across the street from the beach, Gull Harbor is one of the only apartment rental options within walking distance to the Gulf of Mexico in Pinellas County. The apartments are just minutes away from some of Florida’s most prominent destinations, such as St. Petersburg, Clearwater and Treasure Island.

The JLL Capital Markets team representing the seller was led by Senior Managing Director Matt Mitchell and Senior Director Zach Nolan.

According to Mitchell, “Gull Harbor is exemplary of the strength of the Tampa Bay multi-housing market as buyers are attracted to the region’s resilience during the pandemic, owing to its diverse economy and strong in-migration. Properties are generally seeing minimal impact to property performance, which combined with the historically low interest rate environment, is helping to maintain a healthy transaction market.”

Nolan added, “It’s very rare to find apartment properties within walking distance of the beach in the Tampa Bay market and because of this, Gull Harbor will always be desirable and will always maintain its competitive advantage.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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