ST. PETERSBURG, FL-CBRE's Multi-Housing Group in Tampa has closed the sale of the Isles of Gateway apartment in St. Petersburg's Gateway submarket. Robbins Property Associates, an investment company based in Massachusetts, has paid $16.82 million for the 212-unit apartment community at 10600 Fourth St. N.
CAPREIT has sold the community for $79,340 per unit. The deal was financed with a seven-year loan from Freddie Mac. Robbins Property Associates has plans to renovate the property. For the full story, go to Tampa Bay Business Journal .
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