Seville Apartments, Fort Myers, FL
FORT MYERS, FL, June 6, 2013 – Marcus & Millichap Real
Estate Investment Services, the nation’s largest real estate investment
services firm, has announced the sale of Seville Apartments, a 60-unit
apartment community located in Fort Myers, Florida, according to Richard D.
Matricaria, Regional Manager of the firm’s Tampa office. The asset commanded
a sales price of $3,500,000, or $58,333 per unit.
 |
| Casey Babb |
Casey Babb, a CCIM and senior multifamily specialist,
and Luis Baez, associate in Marcus & Millichap’s Tampa office had
the exclusive listing to market the property on behalf of the South Florida-based
seller, ICM Seville, LLC.
Josh Talberg, an associate in the firm’s Minneapolis
office procured the buyer of the property, a private investor based in
Minneapolis.
Seville Apartments is a 1980s vintage, Class “B+” garden
apartment community located on 5.8 lushly landscaped acres and located at 7370
Pinnacle Pines Drive in Fort Myers, Florida.
Seville Apartments unit mix features one- and two-bedroom
apartment homes. Property amenities
include fully-appointed kitchens and baths, sizeable walk-in closets, ceiling
fans, stackable washer and dryer connections, outside storage closets,
semi-private breezeway entries and private screened-in patios and balconies.
Since 2007, there has been over a half-million dollars’
worth of capital improvements, including new roofs, air handlers, air
compressors, appliances, landscaping, site drainage, parking lots, amenity
upgrades and exterior fencing.
 |
| Josh Talberg |
“The Seville Apartments was a short-sale that took almost a
year to complete, but in the end, it commanded one of the highest prices on
record in the current market cycle for southwest Florida apartments sized
between 50 and 100 units,” said Babb in a statement.
“Our platform was able to generate eight offers from a mix
of local and international investors and our Tampa and Minneapolis offices
worked in collaboration to execute the transaction over seven months of
negotiation,” adds Babb.
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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