Acquisitions

Gateway North

December 23, 2015
Multi-Family
Purchased: 2015
Spire US LP Equity Interest: 50%

Nicola Crosby, the real estate division of Nicola Wealth Management Ltd., is pleased to announce the acquisition of Gateway North, a brand new 342-unit apartment community in Clearwater, Florida, acquired in partnership with Venterra Realty. The property was completed in 2015 and is just completing its initial lease-up. It is located within the Tampa metropolitan area, near the intersection of Highway 19 and Roosevelt Blvd, between the cities of St. Petersburg and Clearwater. The surrounding area has recently gone through extensive redevelopment with the addition of a new Wal-Mart, shopping center, theatre, and several dining options. Gateway North is also in close proximity to the Gateway Business district in St. Petersburg, which has the largest concentration of jobs within Pinellas County. Project Amenities include a swimming pool, outdoor kitchen and bar with beach lounge area, fitness center, clubhouse, games room, business center, car wash station, electric car charging stations, dog park, walking trails and detached garages.

Special Thanks To:
Venterra Realty (Joint Venture Partner)
Financing – Cortney Cole (HFF Houston)

For more information, please contact any of the following:

Mark Hannah
Mark Hannah Managing Director, Real Estate 778-383-6937
Alex Messina
Alex Messina Director of Acquisitions,
Real Estate
778-383-4020
Shaun Blythen Acquisitions Manager,
Real Estate
604-558-5500

About Nicola Wealth Real Estate

Nicola Wealth Real Estate is the in-house real estate division of Nicola Wealth.  Our team acquires and manages properties for Nicola Wealth’s real estate portfolios.  We are an experienced team with a disciplined approach, dedicated to building high quality real estate portfolios that are diversified both geographically and by asset type.

About SPIRE Real Estate Portfolios

SPIRE Real Estate LP is an investment portfolio comprised of retail, industrial, office, multi-family, seniors and self-storage properties totaling 3.7 million square feet located in major Canadian markets. SPIRE US LP is an investment portfolio comprised of office, retail and industrial properties located in Seattle, San Francisco, Denver, Phoenix, Houston and Chicago. The portfolio also includes interests in over 14,000 multi-family apartment units located in the South and Southeast US. SPIRE Value Add LP is a new addition to the SPIRE and SPIRE US investment portfolios and focuses on generating returns through re-sale of investments in multiple projects using “value-add strategies.”

About Venterra

Venterra specializes in the identification, finance, acquisition and management of multi-family residential communities in the southern United States. Venterra currently manages a portfolio of multi-family real estate assets of almost 17,000 apartment units. The company has offices in Houston and Toronto and employs over 500 people.