LARGO, Fla., September 4, 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 Bryan Dairy Place, a 96-unit apartment property located in Largo, Fla., according to Ari Ravi, regional manager of the firm’s Tampa office. The asset sold for $12,100,000.
Francesco P. Carriera and Michael P. Regan, 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, a private investor, was also secured and represented by Francesco P. Carriera and Michael P. Regan.
“The private buyer is now the largest owner of 90+ unit apartments communities in Pinellas County across nine properties with more than 1,600 units,” stated Mr. Francesco P. Carriera.
Bryan Dairy Place consists of six, two-story residential buildings in the city of Largo, Fla., which is in Pinellas County. Built in 1986, the buildings are comprised of 96 two-bedroom/two-bathroom units with 925 rentable square feet. All units have central heating and air-conditioning and sit on an approximately 5.74-acre parcel of land. Building amenities include a swimming pool with grill space and a dog park. Bryan Dairy Place is located at 6701 Bryan Dairy Road in Largo, 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