The Commercial Real Estate Alpha Site

 New Towne Properties, an investor based in Largo, FL, acquired the 102-unit Waterside Village Apartments in St. Petersburg, FL from Mallah Enterprises for $7.8 million, or about $76,000 per unit.

Located at 3600 49th Ave., the 31-buidling multifamily community was originally built in 1976, but was renovated in 1988. Waterside Village Apartments offers a mix of one- and two-bedroom floorplans, ranging in size from 420 to 840 square feet, according to CoStar data.