General Services pays $85.14m for St. Petersburg apartments
General Services Corporation has paid $85.14m for The Courtney at Bay Pines, a 330-unit apartment complex in St. Petersburg, Florida. The seller was Northwestern Mutual Life Insurance Company. Completed in 2013, the property sold for $258,000 per unit. Rents range between $1,295 and $2,060 per month.The purchase marks General Services Corporation’s 12th investment in Florida.