Saturday, May 30, 2015

Marcus & Millichap Arranges Sale of Elm Lake Apartments in Bradenton, FL

Michael Donaldson
BRADENTON, 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 Elm Lake Apartments, a 64-unit apartment property located in Bradenton, FL, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $2,500,000.

Vice President Investments Michael Donaldson and Vice President Investments Nicholas Meoli in Marcus & Millichap’s Tampa office along with Executive Vice President Investments Robert Sheppard, Senior Vice President Investments Armand Tiberio,  and Senior Vice President Investments Spencer Hurst, in Marcus & Millichap’s Seattle office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. 

The buyer, a limited liability company, was secured and represented by Nicholas Meoli, Michael Donaldson, Robert Sheppard, Spencer Hurst and Armand Tiberio. 

Elm Lake Apartments is located at 6318 14th Street East in Bradenton, Florida, less than four miles from scenic Sarasota Bay.

Elm Lake Apartments is a 64-unit apartment community consisting of five, two-story buildings and one, one-story building that functions as a leasing office.

Nicholas Meoli
 It is conveniently located within two miles of U.S. Highway 41 (US-41) in Bradenton and offers residents easy access to the area's major north/south thoroughfare without compromising the peace-of-mind created by its proximity to the coast.

The buildings are comprised of eight, one-bedroom/one-bathroom units with 592 rentable square feet, 32 two-bedroom/two-bathroom units with 840 rentable square feet, eight, two-bedroom/two-bathroom units with 1,081 rentable square feet, and 16 three-bedroom/two-bathroom units with 1,036 rentable square feet. 

Property amenities include a clubhouse, basketball court, volleyball court, playground and two on-site laundry facilities.

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

Richard D. Matricaria
Vice President/Regional Manager, Tampa

(813) 387-4700

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