Marcus & Millichap Sells 56-Unit Multifamily portfolio in South Florida

Prospect Apartment Portfolio
 Fort Lauderdale, FL and Oakland, FL

FORT LAUDERDALE, FL– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Prospect Apartment Portfolio, a 56-unit multifamily portfolio comprised of three parcels in Fort Lauderdale and Oakland Park, FL.

The portfolio commanded a sales price of $2,700,000.


Joseph P. Thomas



Associate Vice President Investments Joseph P. Thomas and Associate Adam Duncan in Marcus & Millichap’s Ft. Lauderdale office, represented the seller, a local partnership based in Fort Lauderdale. Thomas and Duncan also represented the buyer, a partnership from Coral Gables, FL.

Due to time constraints, the buyer could not close with conventional bank financing. Senior Associate Daniel Greenberg, along with Associate Director Steve Goldwyn of Marcus & Millichap Capital Corporation arranged a $1.85 million private bridge loan for the buyer which allowed the deal to close within two weeks.

Steve Goldwyn

The Prospect Apartment Portfolio consists of three separate parcels totaling 56 units in Fort Lauderdale and Oakland Park, FL. All buildings are two-stories with two-bedroom/one bathroom units and central air conditioning.

The portfolio includes:

--- 999 West Prospect Road – Oakland Park, FL (32 units)
---1007 West Prospect Road – Fort Lauderdale, FL (16 units)
--- 240 NW 42nd Street – Oakland Park, FL (8 units)



Press Contact:

Gregory Matus
Regional Manager / Vice President,
Fort Lauderdale, FL
(954) 245-3400