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| 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.
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| 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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