The two properties include Promenade at Carillon in St. Petersburg and Sabal Palm at Boot Ranch in Palm Harbor.

The Promenade at Carillon, 540 Carillon Parkway, has 334 units in two-story garden-style buildings, some with attached garages. The complex offers one, two and three-bedroom apartments ranging from 670 square feet to over 1,300 square feet.

Amenities include a business center, a fitness center and spa, swimming pool, walking, jogging and bike trails, and a playground. The Promenade is located off of Ulmerton Road, in St. Petersburg's Carillon professional district. The complex is convenient to I-275 and the St. Petersburg/Clearwater International Airport and is across the Howard Franklin Bridge from Tampa.

Sabal Palm at Boot Ranch has 432 one, two, three and four-bedroom apartments ranging from 633 square feet to more than 1,400 square feet. Amenities at the complex include private patios and balconies, a business center, a fitness center with cardio theater, swimming pool, wireless internet access at the pool, and a clubhouse.

Located at 1350 Seagate Drive, at East Lake Road and the Lake Tarpon Canal in Palm Harbor, the community is about 45 minutes from both Tampa and St. Petersburg, and offers easy access to St. Petersburg/Clearwater international Airport, said the firm.

AREA Property Partners is formerly known as Apollo Real Estate Advisors, is a real estate investor and fund manager on behalf of government and corporate pension funds, sovereign wealth funds, insurance companies and endowments.

Will the acquisition benefit the firm?

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