TAMPA, Fla. – May 8, 2018 – 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 II Nascondiglio, a 12-unit apartment property located in Tampa, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $1,140,000. Casey Babb, CCIM, Luis Baez, CCIM and Shawn Rupp, investment specialists in Marcus & Millichap’s Tampa office, represented the buyer, a private investor.
“Our team represented a first-time apartment investor who is planning to execute a classic value-add strategy”, says Babb. “In the 1920’s the building is rumored to have been a local ‘Hideout’ for mobster Al Capone and the buyers plan is to play up that theme in the repositioning of the property”, added Baez.
II Nascondiglio is a 1920’s vintage apartment community located a highly desirable neighborhood just 1-block north of Kennedy Boulevard and in-between South Tampa and the Westshore Business District.
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About Marcus & Millichap (NYSE: MMI)
With over 1,800 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 nearly 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap 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