BH Equities, Pensam Capital buy Gateway Apartments

BUYER: PBH Prospect Gateway LLC (Pensam Capital LLC and BH Equities LLC), Miami
SELLER: Gateway Apartment Properties LLC
PROPERTY: 2000 Gandy Blvd. N., St. Petersburg
PRICE: $6.9 million
PREVIOUS PRICE: $5.23 million, February 2012
LAW FIRM ON DEED: Macfarlane Ferguson & McMullen, Clearwater

PLANS, DESCRIPTION: Miami-based Pensam Capital LLC and Des Moines, Iowa-based BH Equities LLC have snapped up another Gulf Coast multifamily property. The joint venture purchased the 144-unit Gateway Apartments in St. Petersburg for $6.9 million.

The price equated to $47,916 per unit.