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| Daniel J. Cunningham |
WILTON
MANORS, FL, June 2, 2015 – 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 Camelot West Apartments, a 73-unit apartment property located in
Wilton Manors, Fla.
The asset sold for $6,000,000.
Daniel J. Cunningham and Derek R. Gibbs, senior associates in Marcus & Millichap’s Fort
Lauderdale office, had the exclusive listing to market the property on behalf
of the seller, a private investor from Toronto.
“This was a
great opportunity for an investor to acquire a stabilized 73-unit apartment
community in the attractive niche rental market of Wilton Manors. The property will benefit from Wilton Manors’
growing rental demand trend and long-term outlook,” says Cunningham.
The
community is comprised of four two-story buildings with the following unit mix:
two studios, 46 one-bedroom/one-bathroom units, one two-bedroom/one-bathroom
unit, 17 three-bedroom/two-bathroom and seven office units (ground level
commercial space facing Andrews Avenue).
Camelot West
Apartments is located at 2625 North Andrews Avenue in Wilton Manors, Fla.
For a complete copy of the company’s
news release, please contact:
Ryan Nee
Regional
Manager
Fort Lauderdale, FL
(954)
245-3400
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