TITUSVILLE, FL, July 24, 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 Heritage Apartments, a 56-unit apartment property located in Titusville, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $2,750,000.
Jason Hague, Michael Donaldson and Nicholas Meoli, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by Jason Hague, Nicholas Meoli and Michael Donaldson.
“After marketing the deal to our national database, our team was able to find a strong and well qualified buyer for the asset within just three days of hitting market,” says Hague. “In the end we were able to close within 98 percent of list price with said buyer and closed the property at the executed contract price within 65 days. The buyer received very attractive financing procured by Marcus & Millichap Capital Corporation,” added Hague.
Heritage Apartments is located at 1850 South Park Avenue in Titusville, 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