DUNEDIN, FL, March 13, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Logarto Apartments (top left photo), a 188 unit Apartments property located in Dunedin, FL, according to Bryn D. Merrey, Vice President/Regional Manager of the firm’s Tampa office.
The asset commanded a sales price of $7,300,000.
Michael P. Regan (middle right photo) and Francesco P. Carriera (middle left photo), investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a partnership.
The buyer, a private investor, was also exclusively secured and represented by Michael P. Regan and Francesco P. Carriera.
Logarto Apartments is located at 257 Milwaukee Avenue and is comprised of 188 units. The property is ideally located one mile east of US-19, a short drive from some of the area’s top beaches and in close proximity to numerous national and regional companies’ headquarters.
“This is a sheer example of how well located assets are in high demand and will demand a high price. This asset was only 70% occupied at the time of the sale and there were several down units” comments Carriera.
Press Contact: Bryn D. Merrey, Vice President/Regional Manager, Tampa
(813) 387-4700
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