Marcus & Millichap Arranges Sale of Sandy Creek Apartments in Waycross, GA for $1.55 Million

  

Sandy Creek Apartments, 600 Summit Street, Waycross, GA

John E. (Jay) Brigel

WAYCROSS, GA,  Dec. 27, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Sandy Creek Apartments, a 80-unit apartment property located in Waycross, Ga., according to Richard D. Matricaria, regional manager of the firm’s Tampa office.

 The asset sold for $1,550,001.

John E. (Jay) Brigel, a senior associate in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, a government agency.  Brigel also represented the buyer of the property, a Georgia-based partnership.

 Michael Fasano, vice president and regional manager of Marcus & Millichap’s Atlanta office is the firm’s broker of record in Georgia.

Sandy Creek Apartments is located at 600 Summit Street in Waycross, Ga.  

The property was built in 1973 and consists of ten, two-story buildings.  Sandy Creek Apartments is located in a very desirable location, approximately one half-mile from the Mayo Clinic Hospital. 

Michael Fasano

Property amenities include a sparkling pool, an on-site courtesy officer and a laundry facility. 

“The asset was gifted to a local University three years ago and subsequently rents were never raised and capital maintenance items were allowed to mount,” says Brigel.

 “The University Foundation’s president is very excited about the final sales price and the buyer is equally excited about acquiring a nice value-add property.”

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

Richard D. Matricaria

Regional Manager

Tampa, FL

(813) 387-4700