LAKELAND, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Lake Morton Apartments, a 72-unit apartment complex located in Lakeland, Fla., according to Bryn D. Merrey, Vice President/Regional Manager of the firm’s Tampa office. The sales price of this property has not been disclosedMichael P. Regan (top right photo), an associate vice president investments, Francesco P. Carriera (middle left photo), senior associate and Nicholas Meoli (bottom right photo), associate, all in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the Florida-based seller, a limited liability company.
The listing agents also secured the buyer of the property, a college based out of Lakeland, Florida.
Lake Morton Apartments was built in 1947 on approximately 2.71 acres and consists of eight two-story buildings. The unit mix features one- and two-bedroom apartments, with central air-conditioning in all units.
The property sits directly on Lake Morton which is surrounded by upscale residential communities to the south and downtown Lakeland to the north. There are many large industrial and office facilities within the immediate area. Amenities include on-site parking, a laundry facility and some of the units have lake views.
“This was a unique opportunity for Florida Southern College to expand by converting existing apartment units into student housing,” says Meoli
Press Contact: Bryn D. Merrey, Vice President/Regional Manager, Tampa
(813) 387-4700
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