October 5, 2016
TGM Associates, headquartered in New York City, acquired Ibis Walk, a 401-unit, midrise apartment complex in St. Petersburg, FL. Jamie May and Eddie Yang with JBM Institutional Multifamily Advisors brokered the transaction.
The sales price was not disclosed. The property’s market value was listed at $48.2 million, and the seller was Ibis Walk Residential LLC of St. Petersburg, according to county records. The new owner has already rebranded the asset at 871 Ibis Walk Pl. N. St. as TGM Ibis Walk.
The apartment complex delivered in 2014, with a mix of one, two, and three-bedroom units. Amenities include a heated swimming pool, whirlpool spa, computer bar, athletic club, outdoor kitchen area, a dog park and electric car charging station.
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