Friday, April 3, 2009

Franklin Street Real Estate Services Brokers Naples Apartments Sale

TAMPA, FL--Tampa, Florida based Franklin Street Real Estate Services recently brokered the transaction of Solana Villas Apartments (top right photo) in Naples, FL.

Darron Kattan, Partner, Bob Goldfinger, Partner, and Kevin Kelleher represented both the buyer and the seller of the 44 unit community.

The asking price was $2,350,000 and it closed at full asking price within a two week period from contract execution to closing.

The selling entity was a publicly traded lender that foreclosed on the property in late 2008.

The buyer was a West Palm Beach based private partnership. The previous sale was $7,300,000 in 2006 based on a planned condo conversion.

“The level of interest on the deal was tremendous, with more written offers than any property we had marketed in the last decade,” said Kattan.
“Due to the competition we created, the buyer did a 3 day due diligence and closed in an expedited timeframe in order to get the deal.”

For more information on this transaction, please contact Darron Kattan at 813-839-7300 x315.

Franklin Street Real Estate Services is a Franklin Street Financial Partners company specializing in the brokerage of multifamily assets. For more information, please visit our website at or contact our office at (813) 839-7300.

Franklin Street Financial Partners – Financial Strength From Partners you can trust.

Media Contact: Mandy Force, Franklin Street Financial Partners, LLC, Phone: 813.839.7300; Fax: 813.839.7330.