Allen Morris sells apartment community to Canadian investor

The Allen Morris Co. has sold a luxury mixed-use apartment community, The Hermitage Apartment Homes in St. Petersburg, Fla., for $107 million. The seller was The Hermitage St. Pete, an affiliate of The Allen Morris Co.

The property was acquired by Brass Enterprises, a real estate investment company based in Toronto. Brass Enterprises owns a diversified real estate portfolio with a focus on multifamily residential assets in high growth U.S. markets.

Located at 151 Seventh St. South, and set in the heart of downtown St. Petersburg’s lively Central Arts district, The Hermitage Apartment Homes was created to be a dynamic community-driven project with modern living and inspiring artistry throughout the development.

The Hermitage Apartment Homes features 348 spacious units, a wide array of resort-style amenities, bay views and an art gallery featuring works by celebrated local artists in the building’s main lobby in collaboration with the Morean Arts Center. Situated on two acres, the eight-story building is a destination and landmark within the city, becoming further integrated in the area’s cultural and artistic scene, and where people can experience a live/work/play environment.