 |
| Joshua Teplitzky |
OCALA, FL, July 28, 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 Oakwood Garden
Apartments, a 46-unit apartment community located in Ocala, Fla., according
to Richard D. Matricaria, regional manager of the firm’s Tampa office. The
asset sold for $1,725,000.
Joshua Teplitzky, investment associate, and Michael
P. Regan and Francesco P. Carriera,
both vice president investments, all of Marcus & Millichap’s Tampa office,
had the exclusive listing to market the property on behalf of the seller, a
private investor.
The buyer was also
represented by Teplitzky, Regan and Carriera.
“This property was a prime
example of a value-add opportunity in a tertiary market. The seller
self-managed the property and restricted the resident base to tenants 55 years
or older even though there were no land use restrictions on the property,” says
Teplitzky.
“The buyer saw this as an immediate management
upside through expanding the potential tenant pool and plans to capture a new
demographic by updating the interior of the units.
“We generated nine offers and found the ideal
buyer out of Israel due to our international platform and our unparalleled
ability to create a market for multifamily properties of this size and vintage.”
For a complete copy of the company’s news release,
please contact:
Richard D. Matricaria
Vice President/Regional Manager
Tampa, FL
(813) 387-4700
No comments:
Post a Comment