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| 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 Hemingway at Knoll Ridge,
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 $1,830,000 equating to $114,375 per unit.
Brandon J. Rex,
a vice president investments, and Evan
P. Kristol, a senior vice president investments, both in Marcus &
Millichap’s Fort Lauderdale office, had the exclusive listing to market the
property on behalf of the seller, a limited liability company from Oakland
Park, Fla.
“Hemingway at Knoll Ridge
presented an investor with the opportunity to acquire a boutique apartment
community in a strong rental submarket with historically low vacancy,” says
Rex.
Built in 1971, Hemingway
at Knoll Ridge is situated on a 0.34 acre lot and is comprised of two two-story
buildings. The 16-unit boutique multifamily community consists of all
one-bedroom/one-bath units. The property
offers residents a gated courtyard area, as well as two on-site laundry
facilities and parking.
Hemingway at Knoll Ridge
is located at 5410 and 5414 NE 22nd
Terrace in Fort Lauderdale, Fla.
For a complete copy of the company’s news release,
please contact:
Ryan Nee
Regional Manager, Fort
Lauderdale
(954) 245-3400
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