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| Evan P. Kristol |
TAMPA, FL – Marcus
& Millichap (NYSE: MMI), a leading commercial real estate investment
services firm with offices throughout the United States and Canada, announced
the sale of Puritan Place, a 232-unit, garden-style apartment property,
located in Tampa, FL. The asset sold for $7,556,000.
Evan P. Kristol, a senior vice president investments
in Marcus & Millichap’s Fort Lauderdale office, and Michael Donaldson, an
associate vice president investments, and Nicholas Meoli, a senior associate,
in the Tampa office, had the exclusive listing to market the property on behalf
of the seller, a limited liability company from Lafayette, LA. The agents also secured the buyer, a private
investor from Pembroke Pines, FL.
“This deal is a testament to investors’ appetites for
stabilized buildings in areas with solid demand drivers. Puritan Place is centrally located in
Hillsborough County in close proximity to the area’s retail destinations and
primary employment centers. The property’s strategic location creates both a
convenient and practical home for residents, and provided the buyer with a
value-add opportunity priced well below replacement cost,” says Donaldson.
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| Michael Donaldson |
Puritan Place consists of 32 two-story buildings, which are
comprised of eight studio apartments, 120 one-bedroom units, 64 two-bedroom
units, 16 two-bedroom/two bath townhomes and 24 three-bedroom units. The community also includes two swimming
pools, four laundry facilities, ample parking and a stand-alone rental office.
Situated just blocks south of the Hillsborough River at the
Puritan Road and North 56th Street intersection, the property is located at
7903 Holly Lea Court in Tampa, FL.
For a complete copy of the company’s news release, please
contact:
Ryan Nee
Regional Manager
Fort Lauderdale, FL
(954) 245-3400
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