Tuesday, June 2, 2015

Marcus & Millichap Arranges Sale of Camelot West Apartments in Wilton Manors, FL for $6 Million


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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