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| Hidden Villas, Tallahassee, FL |
TALLAHASSEE, FL, March 4, 2013 – Marcus & Millichap Real
Estate Investment Services, the nation’s largest real estate investment
services firm, has announced the sale of Hidden Villas, a 96-unit
multifamily community located in Tallahassee, Florida, according to Richard D.
Matricaria, Regional Manager of the firm’s Tampa office. The asset commanded a
sales price of $2,700,000.
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| Michael P. Regan |
Michael P. Regan and Francesco P. Carriera,
both vice president investments in Marcus & Millichap’s Tampa office,
represented the Virginia-based seller, a financial institution and the buyer, a
private investor from Mississippi.
Hidden Villas was built in 1972 and is located at 2131 North
Meridian Road in Tallahassee, Florida.
The property is situated on approximately 8.85 acres of land and
consists of 21 two-story residential buildings.
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| Francesco P. Carriera |
The unit mix features 37 two-bedroom/one-bath units, 43
two-bedroom/two-bath units and 16 three-bedroom/two-bath units. Hidden Villas’ amenities include
washer/dryer connections in select units, an on-site laundry facility and a
pool.
“With the help of our national marketing campaign, we were
able to generate 12 offers from buyers in nine cities representing five
different states and one European country,” says Carriera.
“Our exposure
created a competitive bidding environment for the property which ensured our
seller a probable closing at the highest possible price. The buyer was out of
state and it was his first multifamily acquisition in Tallahassee.”
Press Contact:
Richard D. Matricaria
Regional Manager, Tampa
(813) 387-4700
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