Wednesday, January 15, 2014

Marcus & Millichap Arranges $3 Million Sale of Fountain Court Apartments in St. Petersburg, FL

Fountain Court Apartments, St. Petersburg, FL

Francesco 'Frank'
ST. PETERSBURG, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Fountain Court Apartments, a 62-unit multifamily community located in St. Petersburg, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $3,090,000.

Michael Regan
Francesco “Frank” Carriera and Michael Regan, vice presidents investments and Joshua Teplitzky, investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the local seller, a private investor.

The listing agents also procured the buyer of the property, a limited liability company based in Safety Harbor, Fla.

Fountain Court Apartments was built in 1968 and is located at 600 40th Street North in St. Petersburg, Fla. 

Joshua Teplitsky
There are two, two-story buildings and two, three-story buildings consisting of one-, two- and three-bedroom floor plans.  The property has undergone major renovations within the last two years which includes, new exterior paint, new roofs, updates to the pool, elevators, courtyard and the interiors of select units.

For a complete copy of the company’s news release, please contact

Richard D. Matricaria
Regional Manager, Tampa
(813) 387-4700

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