OCALA, Florida, May 22, 2017 – 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 14th Street Townhomes, a 24-unit apartment property located in Ocala, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,275,000.
Jason Hague, Nicholas Meoli and Michael Donaldson, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a limited liability company, was secured and represented byJason Hague, Nicholas Meoli and Michael Donaldson.
“After overcoming some issues in the beginning with the property’s financials, our team was able to find the perfect buyer for the asset through our national and internal marketing campaigns which drove several strong offers to the deal. In the end, we were able to close within 98% of list price by creating a competitive, auction-like environment which effected the buyers to move quickly. We ended up closing in 37 days from the executed contract date despite the fact that the buyer received traditional bank financing”, says Jason Hague.
14th Street Townhomes is located at 1731 NE 14th St in Ocala, Florida.
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About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing 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 9,000 transactions in 2016 with a value of approximately $42.3 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