Thursday, April 4, 2013

Marcus & Millichap Sells106-Unit Mandalay Apartments in Fort Lauderdale, FL for $5.2 Million


  
Mandalay Apartments, Fort Lauderdale, FL

 FORT LAUDERDALE, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Mandalay Apartments, a 106-unit apartment property located in Fort Lauderdale, FL. The asset commanded a sales price of $5,200,000.

Senior Associates Derek R. Gibbs and Daniel J. Cunningham and Vice President Investments Tal I. Frydman in Marcus & Millichap’s Ft. Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor from Miami.

Derek R. Gibbs
The buyer, a limited liability company from North Lauderdale, was secured and represented by Gibbs, Cunningham and Frydman. 

Mandalay Apartments consists of 13 two-story buildings comprised of 66 one-bedroom/one-bathroom units, 28 two-bedroom/two-bathroom units and 12 studios.  The buildings were built in 1969 and sit on 3.81 acre lot.

The property is situated on Davie Boulevard near I-95 and I-595 and minutes from Downtown Fort Lauderdale.  Mandalay Apartments is located at 2115 Davie Boulevard.
  
For a complete copy of the company’s news release, please contact:

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

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