A 348-unit apartment complex in the heart of downtown St. Petersburg has a new owner and a new name.
Boston-based real estate investment and development firm General Investment & Development (GID) has purchased The Hermitage Apartment Homes, located at 151 7th Street South, for $104.46 million or $300,172 per unit. The buyer was also assigned the $75.254 million mortgage from Walker and Dunlop LLC.
The property was previously owned by Toronto-based Brass Enterprises, a private real estate investment firm, which acquired the eight-story luxury apartment community in January 2019 for $107.6 million…