DESTIN, FL – White Point Partners, LLC, announced it has acquired a 233-unit apartment complex known as Venue at Emerald Coast in Destin, FL. Venue is a Class AAA multifamily community located within close proximity to Destin’s legendary beaches.
"We are very pleased to be investing in this area of Florida," said Ryan Hanks, Partner with White Point Partners. “Given it’s proximity to the beach and retail amenities we believe residents will be drawn to this community for years to come”.
White Point acquired the asset in a joint venture with Elevate Partners, LLC. At the time of closing Venue was approximately 98% occupied. The acquisition is consistent with White Point’s continued strategy of buying Class A apartment communities in growth markets.
Venue at Emerald Coast is a new-construction, Class AAA multifamily community featuring one, two and three-bedroom unit layouts averaging 1,100 square feet with upscale amenities that include a resort style pool, a courtyard with grills and fireplace, state of the art fitness center and direct access garages, car ports, as well as business and media centers. High-grade unit interiors include nine-foot ceilings, gourmet kitchens, and upscale bathroom design and finishes.
Venue Emerald Coast is located on 11.2 acres in the coastal community of Destin, Florida. One block to Henderson Beach State Park, which provides residents access to “The Best Beach in The South” (Southern Living Magazine). The coastal location and design of the project directly plays into the resort style living residents desire. One of the area’s best shopping destinations, Destin Commons is located less than two miles away from the Property and features 400,000 square feet of upscale retail including 70,000 square feet of Class A office space. Other employment drivers besides the given service industry that caters towards tourism is both Eglin Air Force Base and Sacred Heart Hospital. Venue offers top of the market finishes and amenities and is located in an irreplaceable location.