Halstatt sells flurry of Florida condo units

Halstatt Real Estate Partners, a Naples-based private equity and real estate investment firm that invests in projects throughout Florida, has seen a flurry of activity at its residential offerings in recent months.

At Edgewater at Hidden Bay, in Osprey in Sarasota County, Halstatt and partner Hidden Bay Development have sold four condominiums for a total of about $2.4 million, or an average of $600,000.

Meanwhile, Halstatt and Groundstone Development have sold a pair of homes within their Estates at Abacoa project near Jupiter, in Palm Beach County, for a combined roughly $2 million.

“What we’re seeing is that the pandemic has driven more activity to Florida, especially from among buyers who are interested in product and residences that are move-in ready,” says Bobby Sullivan, a Halstatt principal.

“It’s been a validation of our thesis regarding investing in Florida fundamentals and what drives the state’s economy,” he adds.

The sales leave Halstatt and Hidden Bay with only four remaining units in the 36-unit project, which sits on 2.8 acres and features direct views of Little Sarasota Bay.

At Estates at Abacoa, a 13-lot development in the 6,000-home Abacoa master-planned community, Halstatt and Groundstone have thus far sold a trio of properties.

Halstatt, a women-owned firm that has been a part of $850 million worth of real estate deals in the past decade, was founded by the Sproul family, descendants of Barron Gift Collier.