Tampa investor grabs Clearwater apartments

CLEARWATER — Blue Rock Partners has expanded its multifamily holdings, buying Cameron Lakes Apartments in Clearwater for $19.4 million.

The 207-unit community, located at 2550 Stag Run Blvd., sold for $93,000 per unit. CL Apartments LP, an affiliate of BH Management Services of Iowa, originally purchased the 30-year-old complex in 2005 for $14.3 million, or $69,000 per unit.

Blue Rock, which partnered with Goff Capital Partners of Denver in the deal, will rebrand the community The Park at Gibraltar. The new owners will invest nearly $1 million in improvements, according to a release, to include an upgraded clubhouse and an Internet cafe.