St. Petersburg apartments sell for $114 million
November 9, 2020 - Trellis at the Lakes, a 688-unit apartment community in north St. Petersburg, has sold for $114 million. The buyer was Stoneweg US, according to Multi-Housing News. Stoneweg is a multifamily real estate investment firm based in St. Petersburg. The seller, ESG Kullen, bought the property in 2016 for $80.9 million. Trellis at the Lakes is located at 11401 Dr. Martin Luther King Jr. St. N. It was built in 1981 and has 384 one-bedroom and 304 two-bedroom apartments, across 46 buildings. It also has a fitness and business center, a clubhouse, tennis and basketball court, six laundry facilities and two swimming pools. ESG Kullen was represented by Mark Meland and Bryan Vega of the Meland Budwick law firm in Miami.