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| Michael Donaldson |
TAMPA, 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 Columbia Park Apartments, a 24-unit multifamily community
located in Tampa, Florida, according to Richard D. Matricaria, regional
manager of the firm’s Tampa office. The $1,325,000 sales price equates to
$55,208 per unit.
Michael Donaldson, vice president investments and Nicholas
Meoli, senior associate in Marcus & Millichap’s Tampa office,
represented both parties in the transaction.
Columbia Park Apartments are located at 14309 North 18th Street
in Tampa, Fla. Built in 2004, the
buildings are constructed of concrete block with a stucco exterior and are
situated on approximately 2.36 acres of land.
The property consists of three, two-story residential
buildings comprised of entirely three-bedroom/two-bathroom units with 1,040
rentable square feet. Interior
amenities include full-size washer and dryer connections in all units,
patios/balconies, spacious floor plans, ceiling fans in living rooms and fully
equipped kitchens.
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| Nicholas Meoli |
“Bringing
an REO foreclosure sale to market in 2014 is not what it used to be several
years ago,” voices Michael Donaldson. “This property garnered so much interest
from the local, national and international markets that our tour days were
completely booked with upwards of several hundred inquiries into the property”
adds Donaldson.
“Part of the appeal of the property was that it was a 2004
concrete block construction and the unit mix was comprised of entirely
three-bedroom floor plans, making this a rare find in a property of this size,”
says Nicholas Meoli.
“Through our extensive marketing campaign in conjunction
with Auction.com, we were able to close on the asset with an out-of-state cash
buyer who was attracted to the positive property attributes and proximity to
USF and the surrounding hospitals,” concludes Meoli.
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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