ORLANDO, FL, June 17, 2011 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of a Millennium Pointe (top left photo), a 200-unit apartment community located in Orlando, Fla. according to Bryn Merrey, Vice President/Regional Manager of the firm’s Tampa office.
The property commanded a sales price of $4,550,000 which represents $22,750 per unit.
Senior Vice President Investments Evan P. Kristol and Still Hunter, III of the firm’s Fort Lauderdale office and Associate Michael Donaldson of the Tampa office represented the seller of the property, a limited liability company from Miami, Fla. The listing agents also secured the buyer of the property, a limited liability company from Lafayette, LA.
“The buyer will benefit from the upside through increasing rents and occupancy. Millennium Pointe’s in-fill location has strong appeal to prospective residents due to its proximity and easy access to the largest attractions and employment centers in the surrounding area,” says Hunter.
Millennium Pointe Apartments was constructed in 1975 and is fully fenced with a card entry system. Its amenity package includes: a clubhouse with business center and fitness center, a large pool with an expansive sundeck and a playground. The property is located at 4255 Barwood Drive in Orlando, Fla.
Press Contact: Bryn D. Merrey, Regional Manager, Tampa
(813) 387-4700
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