ST. PETERSBURG, FL-A multifamily property in located St. Petersburg has changed hands for $23.2 million. Institutional Property Advisors, a unit of Marcus & Millichap, reported that Merion Realty Partners has bought Flagler Pointe Apartments.
PRG Real Estate Management was the seller. The 416-unit apartment community is situated near Interstate 275. The sales price equates to $71 per square foot and $55,769 per unit. The apartment complex last sold in 1995 for $5 million. For the full story, go to Tampa Bay Business Journal .
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