Axio at Carillon Sells for $79.19M in St. Petersburg

Dinerstein paid $79.19 million for Axio at Carillon, a 298-unit apartment community at 250 Carillon Parkway in St. Petersburg. The five-story, 312,936-square-foot property sold by Sentinel Real Estate Corp. marks a 12.83% drop from the $90.85 million Sentinel paid in 2021.

Completed in 2020 as Phase I of the 20.5-acre Echelon City Center mixed-use development, the community sits on 2.57 acres and was previously known as Grove Isle at Echelon City Center. It offers studio, one- and two-bedroom units, plus a six-level, 155,800-square-foot parking garage with 513 spaces.

Rents ranged from $1,752 for a 586-square-foot studio to $2,583 for a 1,080-square-foot two-bedroom. Amenities include social lounges with a café, a golf simulator, gaming and sports rooms, two courtyards with saltwater pools, a fitness center, spin and yoga rooms and a jacuzzi.

Sentinel financed its 2021 purchase with a $50 million Regions Bank mortgage. Dinerstein plans refreshed amenity spaces and a rebrand.