TAMPA, FL—Fountain Court Apartments, a 62-unit multifamily community in St. Petersburg, FL, has a new owner. The apartment complex sold for $3.1 million.

Francesco “Frank” Carriera and Michael Regan, both vice presidents investments, and Joshua Teplitzky, investment specialist in Marcus & Millichap's Tampa office, had the exclusive listing to market the multifamily property on behalf of the local seller, a private investor. The listing agents also procured the buyer of the property, a limited liability company based in Safety Harbor, FL.

Built in 1968, Fountain Court Apartments is located at 600 40th Street North in St. Petersburg. There are two, two-story buildings and two, three-story buildings consisting of one-, two- and three-bedroom floor plans. The multifamily property has undergone major renovations within the last two years which includes, new exterior paint, new roofs, updates to the pool, elevators, courtyard, and the interiors of select units.