Covenant Capital Group fund buys Bayridge Apartments

Covenant Capital Group fund buys Bayridge Apartments

BUYER: Bayridge Multifamily Partners LLC (principal: Govan White), Nashville
SELLER: Bayridge Investment Partners LLC
PROPERTY: 3021 State Road 590, Clearwater
PRICE: $21 million
PREVIOUS PRICE: $19.45 million, March 2007
LAW FIRM ON DEED: Andrews Kurth LLP, Dallas

PLANS, DESCRIPTION: Covenant Apartment Fund VII LP, an investment fund managed by Nashville-based Covenant Capital Group, purchased the 222-unit Bayridge Apartments for $21 million.