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| Nicholas Meoli |
PANAMA CITY,
FL – 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 Ava Kay
Townhomes, a 64-unit apartment property located in Panama City, Fla.,
according to Richard D. Matricaria, regional manager of the firm’s Tampa
office.
The asset
sold for $4,200,000.
Nicholas Meoli, associate vice president
investments, and Michael Donaldson, 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 Michael Donaldson and Meoli.
Ava Kay
Townhomes is located at 295 Nelle Street in beautiful Panama City, which is in
Bay County, Florida.
This
townhome community is situated on an attractive 4.54 acre site, and is
comprised of 17 two-story residential buildings.
The property has a competitive
amenity package including additional storage, children’s playground, large
picnic area with barbecue grills and serene wooded views.
 |
| Michael Donaldson |
Ava Kay Townhomes offer a variety of spacious,
open floor plans consisting of entirely three-bedroom/two-bathroom units, which
have been thoughtfully designed to maximize the usage and functionality of the
space.
“Ava Kay
represented an attractive 2007-built value-add opportunity through continued
rent growth and exterior renovations,” says Meoli. “The property has excellent
floor plans with an average of 1,294-square feet making it a rare and
attractive asset to the local tenant base.”
“We
generated a significant amount of interest from across the country and closed
with a prominent group based out of California on an all cash basis,” adds
Donaldson.
For a complete copy of the company’s
news release, please contact:
Richard D.
Matricaria
Vice
President/Regional Manager
(813)
387-4700
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