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| Jasmine Homes, 3215 Baird Avenue, Lakeland, FL |
LAKELAND, 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 Jasmine Homes, a
120-unit apartment property located in Lakeland, Florida, according to Ari
Ravi, regional manager of the firm’s Tampa office. The asset sold for
$7,400,000.
Nicholas Meoli
and Michael Donaldson, both vice
president investments in Marcus & Millichap’s Tampa office, had the
exclusive listing to market the property on behalf of the seller, a limited
liability company. The buyer, a limited
liability company, was secured and represented by Meoli and Donaldson.
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| Nicholas Meoli |
Jasmine Homes is 120-unit,
garden-style community located at 3215 Baird Avenue in Lakeland, Florida.
Situated on an approximately 7.10 acre site, Jasmin Homes is comprised of 20
two-story residential buildings and one, two-story building, which serves as a
clubhouse and leasing office.
The unit mix offers two
spacious, open floorplans consisting of 28 one-bedroom/one-bathroom units with
725 rentable square feet and 92 two-bedroom/one-bathroom units with 864
rentable square feet.
Amenities at Jasmine Homes include a sparkling swimming
pool with a spacious sundeck and complimentary Wi-Fi, dog park, new playground,
racquetball court, on-site laundry facilities, state-of-the-art fitness center,
business center and media room.
“Located in a sought after
area in Lakeland, Jasmine Homes is surrounded by new developments and easy
access to Interstate 4, which allows for a quick commute to several
destinations between the two major area metros, Tampa and Orlando,” says Meoli.
“Population growth and
organic rental growth continues to climb within the Interstate 4 corridor
making Jasmine Homes a well-positioned property for a long term investment,”
add Donaldson.
For a complete copy of the company’s news release,
please contact:
Ari Ravi
Regional Manager, Tampa
(813) 387-4700
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