Olympus Property, a Fort Worth-based residential real estate management firm, has purchased the luxury apartment complex 930 Central Flats in Downtown St. Petersburg’s EDGE District for $81 million. The transaction, recorded on October 28th, represents a significant increase from the property’s previous sale price of $64 million in 2020 when it was acquired by White Oak Partners.

The six-story, 218-unit development, which opened in early 2019, was purchased at approximately $371,000 per unit. Olympus Property secured a $15.1 million loan from Berkeley Point Capital LLC for the acquisition, with additional financing likely pending documentation with Pinellas County.

Originally developed by Bainbridge Companies and announced in September 2016, 930 Central Flats helped transform the EDGE District by replacing a surface parking lot and bringing needed residential density to support local businesses. The property features studio, one-, and two-bedroom units ranging from 587 to 1,294 square feet, equipped with modern amenities such as digital locks, hardwood-style flooring, and quartz countertops.

The complex offers luxury amenities including a two-story fitness center with a yoga studio, a rooftop terrace, a South Beach-style pool, and co-working spaces. The ground floor retail space currently houses Blo: Blow Dry Bar, with Qargo Coffee planning to open a café at 924 Central Avenue.

Chase Bennett, Chief Acquisitions Officer at Olympus Property, highlighted the strategic importance of this purchase, noting it strengthens the company’s presence in the Tampa Bay market, where they also own the Olympus Harbour Island complex in Tampa. This acquisition brings Olympus Property’s portfolio, which spans 16 states, to over 5,500 units with a total value exceeding $8.4 billion.

(Image credit: Brainbridge Companies)