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| Singer Island Hotel and Cottages, 1166 East Blue Heron Boulevard, Singer Island, FL |
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| Derek R. Gibbs |
SINGER ISLAND, FL, June 16, 2016 – Marcus & Millichap (NYSE:
MMI), a leading commercial real estate investment services firm with offices
throughout the United States and Canada, today announced the sale of Singer Island Hotel and Cottages, a
30-unit portfolio of five contiguous buildings on four parcels sitting on
almost a full acre on Singer Island, Fla. The asset sold for $4,445,000.
Derek R. Gibbs and Daniel J. Cunningham, vice president investments in Marcus &
Millichap’s Fort Lauderdale office, had the exclusive listing to market the
property on behalf of the seller. The buyer, was secured and represented by Brian L. Rosen, a senior associate also
in Marcus & Millichap’s Fort Lauderdale office.
The property was built
between 1952 and 1971 as a multi-family apartment and short-term rental complex
and was later converted into a destination rehabilitation and recovery center.
The unit mix includes 22 one-bedroom/one-bathroom units, two
two-bedroom/one-bathroom units and six studios.
Singer Island Hotel and
Cottages is located at 1166 E Blue Heron
Boulevard and is walking distance to the ocean and close to new retail and
hospitality developments.
For a complete copy of the company’s news release,
please contact:
Ryan Nee
Vice President / Regional
Manager, Fort Lauderdale, FL
(954) 245-3400
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