$8.15 Million Sale of Serenity Apartments at Royal Court in Tampa, FL Arranged by Marcus & Millichap

  

Serenity Apartments at Royalty Court, Tampa, FL

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 Serenity Apartments at Royalty Court, a 150-unit multifamily community located in Tampa, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. 

The $8,150,000 sales price equates to $54,334 per unit.

Francesco Carriera and Michael Regan, vice presidents investments in Marcus & Millichap’s Tampa office, Andrew Daitch and Paul Davis, senior vice presidents investments along with Edward Lippincott, associate vice president investments in the firm’s Detroit office, represented both parties in the transaction.

Francesco Carriera

Serenity Apartments at Royalty Court is located at 3606 Royalty Court in Tampa, Florida. 

The property consists of 19 two-story residential buildings and an additional building that serves as a leasing office.

 The residential buildings are comprised of 36 one-bedroom/one-bathroom units, 80 two-bedroom/one-bathroom units and 34 three-bedroom/one-bathroom units. 

All units have central heating and air-conditioning and the buildings are situated on approximately 7.7 acres of land.  Amenities include an on-site laundry facility as well as a playground. 

“Serenity Apartments at Royalty Court represents a stable property with an add value play through the continued renovation of units and adding amenities throughout the property,” says Regan.  “The immediate submarket is highly sought-after and should respond favorably

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

 Richard D. Matricaria

Vice President/Regional Manager

Tampa, FL

(813) 387-4700