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| Brandon J. Rex |
FORT LAUDERDALE, 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 Victoria Park Village Garden
Apartments, a 16-unit apartment property located in Fort Lauderdale, Fla.,
according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office.
The asset sold for $2,150,000 equating to $134,375 per unit.
Brandon J. Rex,
a vice president investments, Evan P. Kristol,
a senior vice president investments, and Alejandro
Gonzalez, an associate, all in Marcus & Millichap’s Fort Lauderdale
office, had the exclusive listing to market the property on behalf of the
seller, a partnership from Fort Lauderdale, Fla. The buyer is a limited liability company from
Fort Lauderdale, Fla.
“This was a rare
opportunity to acquire a gated and meticulously maintained apartment community
in Victoria Park. The property had not
been offered for sale for many years,” says Rex.
“We generated multiple offers
from both local and national investors and the property ultimately sold to a
limited liability company from Fort Lauderdale. The property’s highly sought
after location and unit mix of all two-bedrooms warranted the high price per unit”
Built in approximately
1954 on a 0.46 acre site, the property consists of three, two-story garden
style multifamily buildings comprised of all two-bedroom/one-bath units.
Victoria Park Village
Garden Apartments is located south of Sunrise Boulevard, on NE 15th Avenue at
the entrance to Victoria Park, at 912-918 NE 15th Avenue.
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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