Saturday, August 2, 2014

Marcus & Millichap Arranges Sale of Essex Court in St. Petersburg, FL for $875,000


Michael Donaldson
 ST PETERSBURG, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Essex Court, a 18-unit apartment property located in St Petersburg, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $875,000.

Michael Donaldson, vice president investments and Nicholas Meoli, senior associate in Marcus & Millichap’s Tampa office, represented the seller, a local private investor. 

The buyer was procured by Earle Hyman, a senior vice president investments in the firm’s Encino office and Donaldson and Meoli in the Tampa office.

Essex Court was built in 1972 and is located at 5800 37th Avenue North in St Petersburg, Fla.   


Nicholas Meoli
“This transaction illustrates the continued national demand for well-located multifamily investments in the Tampa Bay area,” says Meoli.  “The Essex Court acquisition allowed the buyer to increase their footprint in the St. Petersburg submarket and ultimately improve operations through economies of scale,” concludes Donaldson.

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

 Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL
(813) 387-4700


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