BROOKSVILLE, 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 Oak Park Apartments, a 50-unit apartment property located in Brooksville, Florida, according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $2,615,000.
The buyer, a limited liability company, was secured and represented by Ned Roberts, Michael Donaldson and Nicholas Meoli, investment specialists in Marcus & Millichap’s Tampa office.
“Assets in tertiary markets such as Brooksville are increasing attractive to investors seeking comparatively higher yields. We were pleased to represent such and investor, who paid cash and closed in 46 days.” said Roberts.
Oak Park Apartments is a 50-unit multifamily apartment community located in 460 Hale Ave Brooksville, Florida.
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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