TALLAHASSEE, FLA., November 5, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Spanish Oaks Apartments, a 134-unit apartment property located in Tallahassee, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The $5,200,000 sales price equates to $38,806 per unit.
Francesco “Frank” Carriera and Michael Regan, vice presidents investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor based in Colorado. The listing agents also procured the buyer of the property, a limited liability company based in Mississippi.
Spanish Oaks Apartments was built in 1975 and is located at 1327 High Road in Tallahassee, Florida. This 134-unit multifamily community is comprised of one-, two- and three-bedroom apartments. All units have central heat and air conditioning. Amenities include an on-site laundry facility, tennis court, fitness center, clubhouse and a swimming pool.
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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 6,149 transactions in 2012, 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.