50-year-old Clearwater apartment complex sells for more than $80 million

CLEARWATER — In yet another sign that investors aren’t afraid to part with their money, a 50-year-old apartment complex in Clearwater has sold for $80.2 million.

The 372-unit Genesis Apartments at 530 Fairwood Ave. was sold to TLR Group, a Tampa-based real estate investment and management company. The 22-building property, which features one-, two-, and three-bedroom units averaging 920 square feet, was built in 1972.  The complex is just west of U.S. 19 near Drew Street. It’s about a mile from the St. Petersburg College’s Clearwater campus.