/

|

Built in 1974, the Gateway on 4th Apartments in St. Petersburg, Florida, has consistently maintained strong occupancy despite its age.

That occupancy, along with the property’s location in one of Florida’s fastest-growing metros, was an attraction to the most recent buyer, according to Berkadia Managing Director Brad Williamson. 

Florida’s Business Observer identified ResProp Management as the purchaser of the 304-unit property. The Austin, Texas-based firm acquired the asset from a South Florida investor for $37 million on June 30.