St. Pete Smitten

Third Lake Capital could invest in a lot of places — and has — but the company has a special affinity for St. Petersburg, the city across Tampa Bay from its home base in downtown Tampa.

In June, the 4-year-old investment firm acquired St. Petersburg's tallest building, Priatek Plaza, for $65.75 million, with plans to spend considerably more to renovate and improve the 28-story tower.

That deal followed its financial backing of what will be the city's tallest structure, a 41-story, mixed-use skyscraper known as One St. Petersburg, when it is completed next year.