BRADENTON, Fla., December 17, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Atlantic Townhomes, a two-story, 49-unit apartment property located in Bradenton, Florida. According to David G. Bradley, regional manager of the firm’s Tampa office, the asset sold for $8.2 million.
Adam Podbelski, Ned Roberts, Jason Hague and Sam Ferguson of the RPH Multifamily Group 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 limited liability company, was procured by Podbelski, Roberts, Hague and Ferguson.
“Atlantic Townhomes is a great representation of how hot the multifamily space has become – and is continuing to become – in Southwest Florida, particularly Manatee and Sarasota counties,” said Podbelski. “After driving multiple offers, we ultimately went under contract above our target number with a strong, Miami-based family office looking to aggressively grow and take advantage of the near double-digit rent growth in the region.”
Atlantic Townhomes is located at 304 57th Ave Dr. E in Bradenton, Florida, encompassing an entire cul-de-sac on a 3.72-acre lot. Close to local beaches and a short distance from Highway 301, the townhome-style community also benefits from proximity to major employment and retail corridors in Bradenton.
Originally constructed in 1983, the 58,800-square-feet rental property underwent extensive renovations in 2018 including new roofs. It is comprised of 100% two-bedroom/one and one half-bathrooms featuring vinyl plank flooring, stainless steel appliance, quartz countertops, marble-look tile shower/tub combos and stackable washer/dryers.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 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 8,954 transactions in 2020 with a value of approximately $43 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.