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| Adam Duncan |
PEMBROKE PINES, FL – Marcus & Millichap (NYSE: MMI), a
leading commercial real estate investment services firm with offices throughout
the United States and Canada, announced the sale of Villas of Pembroke Pines, a 40-unit apartment property located in
Pembroke Pines, Fla., according to Ryan Nee, regional manager of the firm’s
Fort Lauderdale office.
The asset sold for $3,180,000
equating to $79,500 per unit.
Adam Duncan,
a senior associate, Joseph P. Thomas,
a vice president investments and Derek
Soven, an associate, in Marcus & Millichap’s Fort Lauderdale office,
represented the seller, a private investor from Sewalls Point, Fla., and the
buyer, a private investor from Hallandale Beach, Fla.
“We were able to generate
multiple offers through our marketing process and ultimately closed at our
asking price,” says Duncan.
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| Joseph P. Thomas |
“The buyer was able to add
to their footprint in Southern Broward County allowing for continued growth of
their portfolio with the acquisition” Thomas added.
The Villas of Pembroke
Pines consist of two, two-story multifamily buildings totaling 40 units located
just east of Florida’s Turnpike, south of Pembroke Road.
The property offers an
excellent unit mix including 32 one-bedroom apartments and eight two-bedroom
apartments. The units feature spacious floorplans with ceramic tile flooring,
electric appliances, walk-in closets and central air-conditioning.
The property is located at
6601 and 6661 SW 18th Street near many area schools and colleges, including a
number of flight schools, Florida International University, Broward College,
Pembroke Pines Elementary School, West Hollywood Private School and Flanagan
High School.
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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