Downtown St. Pete apartments sold for $57.5 million

Fusion 1560, a five-story apartment complex on the fringe of downtown St. Petersburg, has been sold to a group of Chicago investors.

Mesirow Financial Real Estate Value Fund paid $57.5 million for the complex at 1560 Central Ave. in a deal that closed May 7, according to a Pinellas County deed filed Wednesday.

JLL represented the seller, Des Moines-based Principal Real Estate Investors, in the transaction.

The deal breaks down to $176,923 per apartment. The community was built in 2011, according… …read more