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SOUTHTOWNE SOLD

Dec 18, 2019 | 5:27 AM

Studer Properties has sold the downtown Pensacola apartment development known as Southtowne for almost 61 million dollars to Stone Point Capital LLC out of Greenwich, Connecticut. The 258-unit, 50-million dollar apartment complex, opened last year and was listed for sale in July. It was built with construction loans personally guaranteed by Quint and Rishy Studer, the owners of Studer Properties. Andrew Rothfeder, president of Studer Properties, said Southtowne will be in good hands with Stone Point Capital and their property manager, BH Management. Rothfeder said the sale of the building frees up capital to tackle other transformative projects in Pensacola.
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Tue Sep 15
Pensacola, FL, USA
90°F
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Pressure: 30.1 INHG
Mostly Cloudy. Feels like 98°F. Wind 13 mph S. Pressure 30.1 inHg. Visibility 10 mi.
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Tue Sep 15
Tonight
80°FLow
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Precipitation: 19%
A slight chance of rain showers between 1am and 4am. Mostly clear, with a low around 80. East wind 5 to 15 mph, with gusts as high as 25 mph. Chance of precipitation is 20%.
Wed Sep 16
Day
90°FHigh
Wind/Dir: 15 MPH-E
Precipitation: 14%
Sunny, with a high near 90. East wind 15 to 20 mph, with gusts as high as 25 mph.
Night
77°FLow
Wind/Dir: 10 MPH-E
Precipitation: 3%
Mostly clear, with a low around 77. East wind 10 to 15 mph.
Thu Sep 17
Day
90°FHigh
Wind/Dir: 10 MPH-E
Precipitation: 0%
Sunny, with a high near 90. East wind 10 to 15 mph, with gusts as high as 25 mph.
Night
76°FLow
Wind/Dir: 5 MPH-NE
Precipitation: 0%
Mostly clear, with a low around 76. Northeast wind 5 to 10 mph.
Fri Sep 18
Day
90°FHigh
Wind/Dir: 10 MPH-E
Precipitation: 1%
Sunny, with a high near 90. East wind around 10 mph.
Night
76°FLow
Wind/Dir: 5 MPH-W
Precipitation: 1%
Mostly clear, with a low around 76. West wind 5 to 10 mph.
Sat Sep 19
Day
92°FHigh
Wind/Dir: 5 MPH-E
Precipitation: 14%
Sunny, with a high near 92. East wind 5 to 10 mph.
Night
78°FLow
Wind/Dir: 5 MPH-SE
Precipitation: 14%
Mostly clear, with a low around 78. Southeast wind around 5 mph.
Sun Sep 20
Day
89°FHigh
Wind/Dir: 5 MPH-E
Precipitation: 31%
A chance of showers and thunderstorms between 7am and 1pm, then a chance of showers and thunderstorms. Mostly sunny, with a high near 89. Chance of precipitation is 30%.
Night
77°FLow
Wind/Dir: 5 MPH-E
Precipitation: 31%
A chance of showers and thunderstorms. Partly cloudy, with a low around 77. Chance of precipitation is 30%.
Mon Sep 21
Day
89°FHigh
Wind/Dir: 5 MPH-E
Precipitation: 42%
A slight chance of showers and thunderstorms before 7am, then a chance of showers and thunderstorms between 7am and 1pm, then a chance of showers and thunderstorms. Mostly sunny, with a high near 89. Chance of precipitation is 40%.
Night
77°FLow
Wind/Dir: 5 MPH-E
Precipitation: 42%
A chance of showers and thunderstorms before 1am, then a chance of showers and thunderstorms. Partly cloudy, with a low around 77. Chance of precipitation is 40%.
Tue Sep 22
Day
88°FHigh
Wind/Dir: 5 MPH-E
Precipitation: 39%
A chance of showers and thunderstorms before 1pm, then a chance of showers and thunderstorms. Mostly sunny, with a high near 88.