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| Robinswood Apartments, Orlando, FL |
ORLANDO, FL, Jan. 21, 2013 – Marcus & Millichap Real
Estate Investment Services, the nation’s largest real estate investment
services firm, has announced the sale of Robinswood Apartments, a
33-unit garden-style community located in Orlando, Florida, according to
Richard D. Matricaria, regional manager of the firm’s Tampa office.
The asset commanded a sales price of $713,000 or $21,606 per
unit.
Michael Donaldson, a senior associate and multifamily
specialist in Marcus & Millichap’s Tampa office, had the exclusive listing
to market the property on behalf of the seller, a limited liability company and
also represented the buyer.
Robinswood Apartments is located at 800 North Hastings
Street. Built in 1966 and 1969, the
property consists of a two-story apartment building with 25 units and four
duplexes.
“The Robinswood Apartments was a classic value add sale that
was unique because it included a 25-unit building and four duplexes, which were
separately parceled,” says Donaldson.
“A seasoned foreign private investor purchased the property
intending to stabilize the occupancy level and further capitalize on the
desirable location just off West Colonial Drive and situated next to a recently
renovated YMCA,” adds Donaldson.
Press Contact:
Richard D. Matricaria
Regional Manager, Tampa
(813) 387-4700
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