Thursday, December 5, 2013

Marcus & Millichap Arranges Sale of Wilton Manors, FL Apartment Portfolio for $5.12 Million

  
 2412 NW 9th Avenue, Wilton Manors, FL

  
Evan P. Kristol
 WILTON MANORS, FL, Dec. 5, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Manors Portfolio, a three-property portfolio totaling 72 units, located in Wilton Manors, FL.

The portfolio sold for $5,115,200 representing $71,044 per unit.

Evan P. Kristol and Still Hunter III, Senior Vice President Investments, and Robert S. Hunter, an Associate, in Marcus & Millichap’s Ft. Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Fort Lauderdale, FL.  The buyer was a limited liability company from Hollywood, FL.

Still Hunter III
“The Manors Portfolio offered an investor the unique opportunity to acquire stabilized, superior assets in highly sought after Wilton Manors,” says Robert Hunter.

“Wilton Manors’ urban desirability and small town charm has made it one of Broward County’s strongest rental markets.

“The area’s positive economic and employment trends are driving the apartment market and expanding the pool of prospective renters.

“The buyer will benefit from the climbing rental rates and property values as well as the immediate opportunity to raise the properties’ current below-market rents to market,”

Robert S. Hunter
Manors Portfolio is comprised of three multi-family properties that total 72 units.  The properties are located in close proximity to one another.  Included in the portfolio are:

  • 2509 NW 9th Avenue , a two-story 16-unit apartment building
  • 2412 NW 9th Avenue, two two-story apartment buildings comprising 40 units
  • 807 NW 24th Street, a two-story 16-unit apartment building

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

Gregory Matus
Regional Manager / Vice President
Fort Lauderdale, FL
(954) 245-3400


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