TAMPA, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Fredericksburg Apartments (top left photo), a 187-unit apartment complex located in Tampa, Florida, according to Bryn D. Merrey, vice president and regional manager of the firm’s Tampa office.
The asset commanded a sales price of $4,480,000.
Casey Babb (middle right photo), CCIM, a senior multifamily specialist in Marcus & Millichap’s Tampa office, had the relationship with the seller, the original developer, as well as his approval to selectively market the property for sale. 
The buyer, a limited liability company from Tampa, Florida, was secured and represented by Michael P. Regan (middle left photo), an associate vice president investments, Francesco P. Carriera (lower right photo) a senior associate and Nicholas Meoli, (lower left photo)multifamily investment specialist also in the firm’s Tampa office.
Fredericksburg Apartments was built in 1968 and is located at 13142 North 22nd Street.
“Fredericksburg was not actively on the market but through internal collaboration, we were able to bring together a motivated seller with an active buyer and structure a win-win for everyone” comments Babb.
“The property is in need of a major rehab and the buyer was able to secure seller financing equal to 90 percent of the purchase price, in exchange for a written commitment to invest a minimum of $500,000 into the property within the first six months of ownership.”
Press Contact:
Bryn D. Merrey
Vice President and Regional Manager, Tampa
(813) 387-4700
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