TGM Associates Acquires Bay Isle Key for $93.8 Million
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TGM Associates acquired the Bay Isle Key apartment community in St. Petersburg, FL, for $ 93.8 million, or $ 161,082 per unit, from Chicago-based Heitman. The 582-unit community consists of 22 buildings on 50 acres with a mix of one-, two- and three-bedroom units as well as townhomes. The transit-oriented community was built in two phases and completed in 2004. TGM will be completing value-add upgrades to the interiors of the apartments and…
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