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ST. PETERSBURG, FLA. — Institutional Property Advisors (IPA) has brokered the sale of the 416-unit Flagler Pointe Apartments, located near Interstate 275 in St. Petersburg, for $23.2 million. The property was built in 1974 but underwent a complete renovation in 2002. The community includes 256 one-bedroom, 128 two-bedroom and 32 three-bedroom units with an average floor plan of 784 square feet. Flagler Pointe Apartments is 91 percent occupied. Amenities include four resort-style pools and two community clubhouses, along with tennis and volleyball courts. Jamie May of IPA represented the seller, PRG Real Estate Management. The buyer was Merion Realty Partners.