Friday, June 14, 2013

Marcus & Millichap Sells 40 Apartment Units in New Port Richey, FL for $1.35 Million


New Port Richey Apartment Portfolio, 5644 Grand Boulevard
 New Port Richey, FL

Michael Donaldson
NEW PORT RICHEY, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of the New Port Richey Portfolio, a 40-unit apartment property located in New Port Richey, Florida, according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

 The asset commanded a sales price of $1,350,000 which equates to $33,750 per unit.

Nicholas Meoli
Michael Donaldson and Nicholas Meoli, senior multifamily associates in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the local seller, a fund manager. 

Meoli and Donaldson, along with Earle Hyman, a senior vice president investments in Marcus & Millichap’s Encino office, procured the buyer of the property, a limited liability company. 

Earle J. Hyman
 The New Port Richey Portfolio was built in 1973 and is located at 5644 Grand Boulevard..

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

Richard D. Matricaria
Regional Manager, Tampa

(813) 387-4700

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