CLEARWATER — Tampa Bay real estate investor Ben Mallah has purchased the Lexington Club at Renaissance Square Apartments on S Missouri Avenue for $15 million.
It is now the second affordable housing complex for seniors owned by Mallah's Largo-based Equity Management. The firm also bought Prospect Towers senior apartments on Chestnut Street last year.
Mallah said he plans to open a convenience store on the property, heat the pool, upgrade equipment in the gym and implement more activities.
"We enjoy providing affordable housing for seniors and hope we make a difference in the quality of their life," Mallah said.