TAMPA, FLORIDA, June 5, 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 Holly & Pleasant Oaks Apartments, a 56-unit apartment property located in Tampa, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $2,217,600.

Casey Babb, Luis Baez, Shawn Rupp, Nicholas Meoli, Ned Roberts and Michael Donaldson, investment specialists 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 Casey Babb, Luis Baez, Shawn Rupp, Ned Roberts, Nicholas Meoli and Michael Donaldson, investment specialists in Marcus & Millichap’s Tampa office.  “The attractive price per unit garnered significant buyer interest and offers from investors in multiple states,” says Ned Roberts, associate in Marcus & Millichap’s Tampa office.

Pleasant Oaks Apartments, located at 2004 East 140th Avenue in Tampa, Florida offers two one-bedroom/one-bath apartments with 465 rentable square feet located in a one-story duplex built in 1965 with concrete block construction and a pitched roof. There are also 20, two-bedroom one-bath units with 823 rentable square feet located in three two-story buildings built in 1986 with wood frame and pitched roof construction.

Holly Apartments, located at 13609-13613 North 20th Street in Tampa, Florida is the largest property in the portfolio offering a total of 34 units in garden style buildings. The property features 20, one-bedroom/one bath units with 550 rentable square feet and 14 two-bedroom/two-bath units with 600-650 rentable square feet in a total of 17 one-story buildings. The buildings were constructed in 1972 and are concrete block with a pitched roof.

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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