ST. PETERSBURG, FL, September 18, 2009 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Northbay Villa Apartments, (top left photo) a 25-unit apartment property located in St. Petersburg, Fla., according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office. The asset commanded a sales price of $730,000.
Michael P. Regan (bottom right photo) and Matt Reichenthal (bottom left photo) , 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 limited liability company, was also secured and represented by Michael Regan and Matt Reichenthal.
Northbay Villa Apartments is located at 1023 Locust Street Northeast. “At a time when velocity in the market is off, the Marcus & Millichap platform showed its prowess by generating multiple offers and ultimately choosing a qualified buyer who closed the deal within 60 days,” states Regan. Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700
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