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| Berkshire Reserve townhome community, 3536 Winifred Road Lane, Naples, FL |
NAPLES, FL, Nov. 13, 2013 – Institutional Property Advisors
(IPA), a multifamily brokerage division of Marcus & Millichap serving the
needs of institutional and major private investors, has arranged the sale of Berkshire
Reserve, a 146-unit townhome community in Naples, Fla. The $15.9 million
sales price equates to $108,904 per unit.
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| Jamie B. May |
IPA
Florida executive director Jamie B. May advised the seller, The
Benchmark Group. The buyer is Inland Real Estate Acquisitions Inc.
“Berkshire Reserve is a stabilized asset that is currently producing
strong cash flow,” says May. “The
acquisition presents the new owner with an excellent and timely opportunity to
implement additional income generators as the Naples apartment market enters a
prolonged period of growth.”
Located at 3536 Winifred Road Lane in Naples, Collier
County, Fla., the property is just north of Interstate 75 and seven miles from
the Naples-area’s famous beaches.
Collier County has one of the strongest
economies in Florida and is one of the fastest-growing regions in the United
States. The county’s population grew 27 percent between 2000 and 2009 and is
projected to continue to lead the nation over the next 10 years in population growth,
personal income and new job creation.
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| Collier County, FL Night skyline |
Constructed in 2001, Berkshire Reserve is composed of 37 two-story
apartment buildings and a leasing office set amidst landscaped grounds around a
large central lake and fountain.
The 1,300-square-foot townhome-style floor
plan features three bedrooms and two-and-one-half baths. Interiors have a full
appliance package that includes a microwave and a refrigerator with automatic
icemaker, a full-size washer and dryer, water and sewer submeters, ceramic tile
tub surrounds, private patios and vaulted ceilings upstairs.
Community amenities include a spacious swimming pool with
sundeck, picnic areas, a children’s playground and a car care station.
For a complete copy of the company’s news release, please
contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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