The Beacon 430 apartment complex in downtown St. Petersburg has been sold to Alabama-based B&M Management for $84.5 million. The four-story 326-unit property located at 430 Third Ave. South traded for $259,202 per apartment. JBM Multifamily Institutional Advisors of Tampa represented the seller, NRP Group, in the transaction. NRP purchased the land for the development from Times Publishing Co. for $6 million and completed the asset in early 2015. At the time of closing the complex was 97 percent leased.
