Denver-based Avanti Residential has acquired Artistry, a $92 million, 246-unit apartment luxury community in the heart of downtown St. Petersburg, Fla.
Avanti purchased the class A project from nationwide apartment builder Milhaus Development, which completed the project in 2020 with condominium-quality finishes, resort-like amenities, and 10,000 square feet of retail space catering specifically to apartment tenants.
“We are seeing strong fundamentals in several South Florida multifamily markets, where impressive employment growth, notably in the tech sector, has been a good leading indicator for apartment demand,” said Christian Garner, president and CEO of Avanti Residential.
Artistry is located at 1661 Central Ave. in the downtown core of St. Petersburg, home to a sizable employment center and vibrant entertainment hub with numerous restaurants, bars and cultural attractions. The project has a high walkability score to area amenities and is two blocks
