SEMINOLE, FLA., September 23, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Imperial Village Apartments, a 144-unit multifamily community located in Seminole, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $8,150,000.
Michael P. Regan and Francesco P. Carriera, both vice president investments in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Francesco P. Carriera and Michael P. Regan.
Imperial Village Apartments is located at 9790 Hamlin Boulevard in Seminole, Florida. The property consists of 12 two-story residential buildings and a one-story building that serves as the clubhouse and leasing office. The residential buildings are comprised of 96 one-bedroom/one-bathroom units ranging from 685 to 710 rentable square feet and 48 two-bedroom/two-bathroom units with 978 rentable square feet. All units have central heating and air-conditioning, and the buildings sits on a 6.85 acre parcel. Amenities include an on-site laundry facility, shuffleboard court, clubhouse and a pool.
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About Marcus & Millichap (NYSE: MMI)
With nearly 1,500 investment professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 7,600 transactions in 2014 with a value of approximately $33.1 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com