Exhibit 10.6



SECOND AMENDMENT TO PURCHASE AND SALE
AGREEMENT



THIS SECOND AMENDMENT TO PURCHASE AND SALE
AGREEMENT (“Amendment”) is made as of the 10th day of May, 2013 (the “Effective Date”),
by and between TALISON ROW ASSOCIATES, LP, a Delaware limited partnership (“Seller”) and TRADE STREET OPERATING
PARTNERSHIP, LP, a Delaware limited partnership (“Buyer”).



BACKGROUND



(1)          Seller and Buyer
previously entered into a certain Purchase and Sale Agreement dated April 8, 2013 (the “Original Agreement”),
as amended by that certain First Amendment thereto dated April 26, 2013 (the “First Amendment”, and collectively
with the Original Agreement, the “Agreement”), pursuant to the terms of which Seller agreed to sell to Buyer
and Buyer agreed to purchase from Seller a tract of land containing approximately 10.3 acres located in Parcel L, Daniel Island,
City of Charleston, Berkeley County, South Carolina and all improvements and other property situated thereon or relating thereto,
subject to the terms and provisions thereof (defined in the Agreement as the “Property”). Unless otherwise defined
herein, capitalized terms when used in this Amendment shall have the meanings given such terms in the Agreement.



(2)          Buyer has requested
Seller to extend the Inspection Period and Seller has agreed subject to the terms and provisions of this Amendment.



NOW, THEREFORE, in
consideration of the premises and the sum of Ten Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged and confessed, Seller and Buyer hereby amendment the Agreement as follows:



1.          The Inspection Period is hereby
extended until 5:00 p.m. Eastern Time Zone (U.S.A.) on May 14, 2013.



2.          The Agreement, as amended by
this Amendment, is hereby declared to be in full force and effect and neither party to the Agreement, is in default of any of its
obligations thereunder.



END OF TEXT; SIGNATURE
PAGE FOLLOWS











|EXECUTED as of the date and year first above written. |                                      
|----------------------------------------------------- | -------------------------------------
|                                                      |                                      
|SELLER:                                               |                                      
|                                                      |                                      
|TALISON ROW ASSOCIATES, LP                            |                                      
|a Delaware limited partnership                        |                                      
|                                                      |                                      
|By:                                                   | Talison Row Development, LLC,        
|                                                      | a Delaware limited liability company,
|                                                      | its general partner                  
|                                                      |                                      
|                                                      | By:                                  
|                                                      | Name:                                
|                                                      | Title:                               



|BUYER:                                 
|---------------------------------------
|                                       
|TRADE STREET OPERATING PARTNERSHIP, LP,
|a Delaware limited partnership         



|By: | Trade Street OP GP, LLC,              | 
|--- | ------------------------------------- | 
|    | a Delaware limited liability company, | 
|    | its general partner                   | 
|    |                                       | 
|By: | Trade Street Residential, Inc.,       | 
|    | a Maryland corporation,               | 
|    | its sole member                       | 



| | By:    | /s/ Bert Lopez | 
| | ------ | -------------- | 
| | Name:  | Bert Lopez     | 
| | Title: | COO/CFO        |