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BH Mgmt Buys Bel Air Apartment Homes in Saint Petersburg

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BH Management Services LLC acquired the Bel Air Apartment Homes at 1200 102nd Ave. N in Saint Petersburg, FL for $ 44.2 million, or about $ 84,000 per unit, from Northland Investment Corporation. The four-building multifamily community totals 497,048 square feet and delivered to the Pinellas Park MF submarket in 1973. The 528-unit property was last renovated in 1997. After acquiring the asset free and clear of existing debt, the buyer secured…
Tampa/St. Petersburg Commercial Real Estate News From CoStar Group

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Today, Tampa is part of the metropolitan area most commonly referred to as the Tampa Bay Area. For U.S. Census purposes, Tampa is part of the Tampa-St. Petersburg-Clearwater, Florida Metropolitan Statistical Area. The four-county area is composed of roughly 2.9 million residents, making it the second largest metropolitan statistical area (MSA) in the state, and the fourth largest in the Southeastern United States, behind Miami, Washington, D.C. and Atlanta.[14] The Greater Tampa Bay area has over 4 million residents and generally includes the Tampa and Sarasota metro areas.

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