TALLAHASSEE, FLORIDA, June 8, 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 Park Avenue Apartments, a 24-unit apartment property located in Tallahassee, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,200,000.

Allan Holbrook in Marcus Millichap’s Jacksonville office and Michael Donaldson and Nicholas Meoli, senior vice presidents 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 limited liability company, was secured and represented by Allan Holbrook, Michael Donaldson and Nicholas Meoli.

Park Avenue Apartments is located at 638 E Park Avenue in Tallahassee, 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