Raven at Bay Pines was identified off-market based on recent multifamily sales and subsequent rent growth in the southwest St. Petersburg sub-market.  The previous long-term owner was failing to take advantage of 50%+ rental upside per unit, which is primarily achievable through managerial strategy, alone.  Physical value-add strategy includes paving the parking lot, conversion of green space to community amenities, interior renovations, and more.