 |
| John E. Brigel |
VALDOSTA, GA
– Marcus & Millichap (NYSE: MMI), a leading commercial real estate
investment services firm with offices throughout the United States and Canada,
today announced the sale of Azalea
Woods, an 80-unit apartment property located in Valdosta, Ga., according to
Richard D. Matricaria, regional manager of the firm’s Tampa office.
The asset
sold for $3,900,000.
John E. Brigel, vice president investments, in Marcus
& Millichap’s Tampa office, had the exclusive listing to market the
property on behalf of the seller, a limited liability company.
The buyer was secured and represented by Brigel,
and Michael Fasano, broker for the
state of Georgia, assisted in closing of this transaction.
Azalea
Woods, a student housing community, is located at 811 West Mary Street in
Valdosta, Georgia and is immediately across from Valdosta State University.
Currently there are 80 existing units consisting of 38 three-bedroom/one-bath,
38 two-bedroom/one-bath and four one-bedroom/one-bath.
“I suggested
to my seller, a longtime client, that a higher and better use for his
strategically situated, family Section 8 asset would be as a prime location,
student housing property. He agreed, and so did the investor,” says Brigel.
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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