Friday, August 22, 2014

Marcus & Millichap Arranges Sale of the Landmark and Silver Leaf East Multifamily Portfolio in Tallahassee, FL for $6.475 Million


Landmark and Silver Leaf  East Multifamily Portfolio
Tallahassee, FL
TALLAHASSEE, 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 Landmark and Silver Leaf East Portfolio, a 195-unit multifamily portfolio located in Tallahassee, Fla., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The asset sold for $6,475,000.

Michael Regan and Francesco Carriera, vice president investments in Marcus & Millichap’s Tampa office, represented both parties in the transaction. 

The Landmark and Silver Leaf East Portfolio is located at 2125 Jackson Bluff Road in Tallahassee, Fla. 

Michael P. Regan
Landmark Apartments is a 129-unit multifamily community comprised of 15, two-story residential buildings, a one story, stand-alone building that serves as a leasing office and an additional one-story building that serves as a laundry facility.

Silver Leaf East Apartments is a 66-unit multifamily community comprised of eight, two-story residential buildings and a one story, stand-alone building that serves as a leasing office and laundry facility.

“The buyer just acquired a multifamily asset in Tallahassee in 2013 and saw this as an opportunity to acquire two additional stabilized assets with a 95 percent plus occupancy with potential upside through continued capital improvements and the below-market rents,” says Regan. 

 “Home of Florida’s State Capital and more than nine post-secondary institutions, including FSU, Tallahassee provides economic stability for the investor.”


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

Richard D. Matricaria
Vice President/Regional Manager, Tampa

(813) 387-4700

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