WINTER HAVEN, Fla., August 14, 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 Courtland Terrace, a 30-unit apartment property located in Winter Haven, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $2,350,000, which equals $78,333 per unit.
Ned Roberts, Nicholas Meoli and Michael Donaldson, 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, an individual/personal trust, was secured and represented by Ned Roberts, Nicholas Meoli and Michael Donaldson, investment specialists in Marcus & Millichap’s Tampa office. “With strong local economic drivers and convenience access to both Tampa and Orlando interest in Polk County is high. Leveraging that interest, we identified a buyer who agreed to pay full list price after just two days of marketing the asset.” Stated Roberts.
Courtland Terrace Garden Apartments is a 30-unit apartment community in Winter Haven, Florida. The apartments feature an attractive mix of 24, two-bedroom/one-bathroom units and six, one-bedroom/one-bathroom units. Courtland Terrace Garden Apartments is located seven miles to the rapidly growing LEGOLAND Florida Resort and less than one hour to both Orlando and Tampa Central Business Districts. Courtland Terrace is located at 2000 15th Ct NW in Winter Haven, FL.
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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 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