Passco Companies LLC, based in Irvine, California has purchased the Azure apartment complex for $54 million. The 308-unit property located on Trinity Lane in St. Petersburg is 94-percent leased. Built by Huston Based Hines Co., the land was purchased for $6.3 million in 2013 and the complex was completed in 2014. With sale prices of just over $175,000 per unit, other investors and developers can be expected to launch new activities.
