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| Joseph P. Thomas |
DAVIE, FL – Marcus & Millichap (NYSE: MMI), a
leading commercial real estate investment services firm with offices throughout
the United States and Canada, today announced the portfolio sale of 52 units in
Villa Nova Condominiums, a 92-unit condominium
property located in Davie, Fla. The portfolio sold for $4,800,000.
Joseph P. Thomas, a vice
president investments, Adam Duncan,
a senior associate, and Derek Soven,
an associate, all in Marcus & Millichap’s Fort Lauderdale office,
represented the seller, a private investor from Davie, Fla, and procured the
buyer, a private investor from Dania Beach, Fla.
“Villa Nova is a unique
opportunity to acquire over 50 percent ownership of a condominium situated in a
booming location in Davie near Nova Southeastern University, Florida Atlantic
University and Broward College,” says Thomas.
“We generated tremendous interest in the portfolio, including interest
from buyers that wouldn’t typically look to acquire bulk condominiums.”
“We received more than 10
initial offers for the portfolio and five groups were invited to the highest
and best. Ultimately, we matched the
portfolio with a buyer that clearly recognized the upside and had a good vision
for the property,” adds Duncan.
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| Adam Duncan |
Villa Nova Condominiums were
constructed in 1985 and include eight two-story buildings and a single-story in
the center of the property.
The portfolio unit mix consists entirely of
two-bedroom/two-bathroom floorplans and the community offers a fitness center,
pool and children’s playground area.
Located at 6700 - 6940
Nova Drive, Villa Nova Condominiums is situated within walking distance to a
variety of schools, universities, shopping, dining, entertainment venues and
employment centers.
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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