Marcus & Millichap Arranges $2.15 Million Sale of 16-Unit Victoria Park Village Garden Apartments in Fort Lauderdale, FL

                           

Brandon J. Rex

FORT LAUDERDALE, 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 Victoria Park Village Garden Apartments, a 16-unit apartment property located in Fort Lauderdale, Fla., according to Ryan Nee, regional manager of the firm’s Fort Lauderdale office. 

The asset sold for $2,150,000 equating to $134,375 per unit.

Brandon J. Rex, a vice president investments, Evan P. Kristol, a senior vice president investments, and Alejandro Gonzalez, an associate, all in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a partnership from Fort Lauderdale, Fla.  The buyer is a limited liability company from Fort Lauderdale, Fla.

“This was a rare opportunity to acquire a gated and meticulously maintained apartment community in Victoria Park.  The property had not been offered for sale for many years,” says Rex.

 “We generated multiple offers from both local and national investors and the property ultimately sold to a limited liability company from Fort Lauderdale. The property’s highly sought after location and unit mix of all two-bedrooms warranted the high price per unit”

Built in approximately 1954 on a 0.46 acre site, the property consists of three, two-story garden style multifamily buildings comprised of all two-bedroom/one-bath units.

Victoria Park Village Garden Apartments is located south of Sunrise Boulevard, on NE 15th Avenue at the entrance to Victoria Park, at 912-918 NE 15th Avenue.

For a complete copy of the company’s news release, please contact:

Ryan Nee

Regional Manager,

Fort Lauderdale, FL

(954) 245-3400