ST. PETERSBURG - Douglas Wilson Companies has been named court-appointed receiver for the 193-unit Nautica Apartments in St. Petersburg.

DWC’s new professional management team, The Continental Group, will supervise thorough cleaning and repair work, including replacement of appliances, carpeting and landscaping where needed.

TAMPA - The Tampa apartment market has passed through the most severe phase of the recession, a period during which the apartment vacancy rate climbed 360 basis points, according to the 2010 National Apartment Report by Marcus & Millichap. Job reductions will ease in 2010, but demand will remain subdued, resulting in further vacancy increases and rent cuts.

CLEARWATER - ABG Sundal Collier ASA, a foreign capital investment firm, purchased the remaining 116 units of the Waterscape Resort Condominiums in the Florida panhandle city of Fort Walton Beach.

The units were purchased from Crescent Resources, represented by John W. Stone, CCIM, and Jason T. Stanton, CCIM, of Colliers Arnold and John K. Crotty and David C. Metalonis, CCIM, of Colliers Abood Wood-Fay.

The $180 million development was completed in 2008 on 9.43 acres and consists of three, six-story buildings with a total of 339 units.

ST. PETERSBURG - JBM of Marcus & Millichap, an investment advisory and brokerage services firm dedicated exclusively to the multifamily sector, announced the sale of Lincoln Shores Apartments in St Petersburg.

Jamie B. May, senior director, and Matt Mitchell within Marcus & Millichap’s National Multi Housing Group, brokered the sale on behalf of an institutional seller. Greystar Real Estate Partners joint ventured with Praedium to acquire the 631-unit property, which was 95% occupied at the time of sale.