PUNTA GORDA, Fla., August 16, 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 Riverside Oaks, an 18-acre manufactured homes community in Punta Gorda, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $10,000,000.
Dan Mulkey, an investment specialist in Marcus & Millichap’s Tampa office, represented the seller, a private investor, in this transaction. The buyer, Northwestern Mutual Life Insurance Company, was also secured by Dan Mulkey.
“This acquisition was the perfect fit for NML since they own a large community directly across the street from Riverside Oaks, allowing them to easily blend in the task of management for the newly acquired community. Riverside is a solid 5-Star community which compliments the NWM portfolio,” stated Mr. Mulkey.
Riverside Oaks is an all adult community with 102 spaces. Established in 1990, Riverside Oaks offers large sites with mature trees and nature trails. Riverside Oaks is located at 27205 Jones Loop Road in Punta Gorda, Fla.
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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