DUNEDIN, FLA., December 20, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Hidden Oaks, a 10-unit apartment property located in Dunedin, Florida, according to Richard D. Matricaria, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $345,000.
Michael P. Regan and Francesco P. Carriera, vice president investments and James Vestal, investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the local seller, a private investor. The buyer, a limited liability company was also represented by Michael P. Regan, Francisco P. Carriera and James Vestal.
Hidden Oaks was built in 1974 and is located at 590 New York Avenue in Dunedin. This 10-unit apartment community is situated on approximately .55 acres of land and is comprised of one, two-story building. There is a mix of one and two bedroom apartments and all units have central air-conditioning. Community amenities include on-site laundry facility, ample on-site parking and screened-in porches.
“This sale represents a strong demand for the dwindling supply of distressed assets in the market” says Vestal.
# # #
With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 5,085 transactions in 2011, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.