Tuesday, May 14, 2013

Marcus & Millichap Announces Sale of Tara Gardens in Largo, FL for $825,000


                                              
         
                                        Tara Gardens Apartments, Largo, FL

LARGO, FL, May 14, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Tara Gardens, a 22-unit apartment community located in Largo, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset commanded a sales price of $825,000.

Michael P. Regan
Michael P. Regan and Francesco P. Carriera, vice president investments and Nicholas Meoli, senior investment specialist in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the local seller, a private investor.  The listing agents also procured the buyer of the property, a private investor based in California.

Francesco P.
 Carriera
Tara Gardens was built in 1972 and is located at 1630 Jefferson Avenue in Largo, Florida.  The property consists of a two-story building situated on approximately 0.51 acres of land.

Tara Gardens is comprised of one and two-bedroom units that were renovated within the last year.  Property amenities include central heat and air-conditioning, and an on-site laundry facility. 

“This buyer is from California and this is his second acquisition in Pinellas County within the past 12 months,” Meoli said in a statement.  “There is an ongoing trend with out-of-state investors targeting multifamily properties in the Tampa Bay area.”

  For a complete copy of the company’s news release, please contact:

Richard D. Matricaria
Regional Manager,
Tampa, FL
(813) 387-4700

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