 |
| Frances P. Carriera |
HUDSON, 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 Ridgestone Apartments, a
112,552-square foot multifamily community in Hudson, Florida, according to Ari Ravi, regional manager of the
firm’s Tampa office. The asset sold for $8,570,000.
Francesco P. Carriera and Michael P. Regan, both first vice president investments in Marcus
& Millichap’s Tampa office, had the exclusive listing to market the
property on behalf of the seller, a private investor. The buyer, a private investor, was secured
and represented by Carriera and Regan.
“The buyer saw an
opportunity that was more attractive than those in South Florida for an equal
quality product of similar vintage,” says Carriera. “The buyer plans to add
value by implementing an interior renovation program.”
Ridgestone Apartments is
136-unit multifamily community located at 12429 Little Road in Hudson, Florida,
which is in Pasco County. The property
consists of eight, two-story residential buildings and a single-story building
that serves as the clubhouse, leasing office, business center and fitness
center.
The residential buildings
are comprised of 64 one-bedroom/one-bathroom units with 761 rentable square
feet, 16 two-bedroom/one-bathroom units with 802 rentable square feet and 56
two-bedroom/two-bathroom units ranging from 902 to 965 rentable square feet.
The buildings sit on an
approximately 26.67 acre parcel of land, and amenities include washer and dryer
connections in all two-bedroom units, on-site laundry facility, fitness center,
business center, clubhouse and a resort-style pool.
For a complete copy of the company’s news release,
please contact:
Ari Ravi
Regional Manager
Tampa, FL
(813) 387-4700
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