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You are here: Home / Commercial Real Estate & Developers / Marcus & Millichap Arranges the Sale of a 22-Unit Apartment Portfolio

Marcus & Millichap Arranges the Sale of a 22-Unit Apartment Portfolio

March 3, 2020 by Post

OCALA, Fla., March 3, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of the SW Ocala Portfolio, a 22-unit apartment portfolio located in Ocala, Fla., according to Christopher W. Travis, regional manager of the firm’s Tampa office. The asset sold for $1,220,000.

The buyer, a private investor, was secured and represented by Miles Tombrink, Casey Babb, CCIM, Luis Baez, CCIM and Shawn Rupp.

“The Southwest Ocala Portfolio allowed our client to purchase a stabilized asset with immediate upside potential through rental increases. Due to the strong location and physical attributes of the property, the buyer was able to get favorable financing terms and close in less than 70 days from the execution of contract,” says Tombrink.

The SW Ocala Portfolio consists of 11 duplexes spread throughout 6 parcels in southwest Ocala.  Each unit consists of two-bedrooms/one-bathroom and washer/dryer hookups. The buildings are all concrete block construction, have metal roofs and were built between 1964 and 1969. 

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About Marcus & Millichap (NYSE: MMI)

With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 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.

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