DUNEDIN, FL, August 9, 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 885 Beltrees Street, a 16-unit apartment property located in Dunedin, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $925,000.
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 byJason Hague, Michael Donaldson and Nicholas Meoli.
“Beltrees Apartments was an off market transaction that we closed with a cash buyer,” stated Hague. “The buyer owned assets in the immediate area and found this property to be particularly interesting due to the location. The property did have some deferred maintenance issues which we were able to overcome and got the buyer to close in just over 30 days from the executed contract,” added Hague.
The Property is located at 885 Beltrees Street in Dunedin, 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