BH Equities, Pensam Capital buy Gateway Apartments in St. Petersburg, Florida. via NAI Sean Dreznin
BY: SEAN ROTH | REAL ESTATE EDITOR
June 14, 2013
Miami-based Pensam Capital LLC and Des Moines, Iowa-based BH Equities LLC have snapped up another Gulf Coast multifamily property. The joint venture purchased the 144-unit Gateway Apartments in St. Petersburg for $6.9 million.
The price equated to $47,916 per unit.
Built in 1986, the apartment development features 11 one- and two-story buildings. Units average 600 square feet of rentable space. Amenities include a laundry facility, basketball court and swimming pool. The development occupies a 7.26-acre site.