Blue Rock Partners has partnered with Konover South LLC for the purchase of Avondale by the Lakes apartment complex for $20.2 million, or $66,400 per unit. The 304-unit property, located at 5473 27th Street South in St. Petersburg, is 94-percent leased. Blue Rock will rebrand the community as The Park at Trevisso and invest an additional $4 million ($13,200 per unit) in interior, exterior, and general facility upgrades. This sale marks the second acquisition this week for Blue Rock, having just acquired the Cameron Lakes Apartments for $19.4 million.
