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St. Pete apartment complex sells for $54.6 million

The complex off Fourth Street N is convenient to both Tampa and downtown St. Petersburg.
West Port Colony apartments in St. Petersburg [C2 Design Group Inc, Chris Stevens]
West Port Colony apartments in St. Petersburg [C2 Design Group Inc, Chris Stevens]
By Susan Taylor Martin
Published Nov. 12

ST. PETERSBURG - A huge New York pension fund adviser has bought the West Port Colony apartments for $54.6 million. The sale of the 324-unit complex to Clarion Partners works out at $168,519 a unit.

Built in 1989, West Port Colony last sold for $16.2 million in 2001. Clarion manages nearly $51.2 billion in total assets for more than 350 pension funds and other institutional investors.

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