The Morgan, a 304-unit apartment complex in south St. Petersburg that has faced mounting debt, unpaid utility bills and complaints about deteriorating living conditions, has changed hands following a federal bankruptcy proceeding.
Property records show Dallas-based Lurin Real Estate Holdings LXIV LLC transferred the complex at 5473 27th St. S. to BDS V FL Morgan LLC on Oct. 2. The deed was recorded in Pinellas County Oct. 7.
The transfer follows a Sept. 17 ruling by a federal bankruptcy judge in Texas approving a $41.1 million credit bid submitted by a secured lender identified in court documents as Bridge. The lender was the only qualified bidder for the property…