• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar

Tampa Bay News Wire

All news... no paywalls

  • Submit a Release
  • Contact Us
You are here: Home / Commercial Real Estate & Developers / Marcus & Millichap Arranges the Sale of a 38-Unit Apartment Building

Marcus & Millichap Arranges the Sale of a 38-Unit Apartment Building

June 11, 2018 by Post

LARGO, Fla., June 11, 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 Villa des Chenes, a 38-unit apartment property located in Largo, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $3,200,000. At $84,211 per-unit this transaction represents the highest per unit trade for a 1960’s built multifamily investment sale, in Largo history.

Sebastian Harris, Adam Podbelski, Ned Roberts, Michael Donaldson and Nicholas Meoli, investment specialists in Marcus & Millichap’s Tampa office, represented the seller, a private investor. They also secured and represented the buyer, a limited liability company.

“The seller agreed to let us market the property because they understood our ability to source buyers who see the future of value in assets like this,” says Harris. “The asset has fantastic frontage on West Bay Drive and was attractive to the buyer due to the fact that it is directly across the street from Largo Medical Center,” says Pobdelski. “This transaction is indicative of the value-add opportunities investors continue to seek, as investor and tenant demand for apartments remains very high,” says Roberts. “The buyer exchanged out of a property in the Northeast, and like many other investors, is excited about the growth in the Tampa Bay area,” added Harris.

Villa des Chenes is a 38-unit multifamily community located at 1500 West Bay Drive in Largo, Florida.

#     #     #

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 over 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

 

email
print

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)

Related

Filed Under: Commercial Real Estate & Developers, Cryptocurrency, Financial Services

Primary Sidebar

Categories

42 Users Online
1 User Browsing This Page.
Users: 1 Bot

Connect with us

  • View madduxbusinessreport’s profile on Facebook
  • View tbnwire’s profile on Twitter

RSS feed


42 Users Online

© 2023 KnowHowe

 

Loading Comments...