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| Jason Hague |
OCALA, 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 Woodland Bend Apartments, a
24-unit apartment property located in Ocala, Florida, according to Ari Ravi,
regional manager of the firm’s Tampa office. The asset sold for $1,050,000.
Jason Hague,
associate, Nicholas Meoli and Michael Donaldson, both vice president
investments, all in Marcus & Millichap’s Tampa office, had the exclusive
listing to market the property on behalf of the seller, a private
investor.
The buyer, an
individual/personal trust, was secured and represented by Hague, Donaldson and
Meoli.
Woodland Bend Apartments
is a 24-unit, garden-style community located at 720 Northeast 30th Avenue in
Ocala, Florida. The property is made up of five buildings in total that sit on
approximately 1.91 acres.
The unit mix consists of
24 two-bedroom/one-bathroom units which are approximately 900 rentable square
feet in size. Woodland Bend Apartments is situated one block north of East
Silver Springs Boulevard, a major thoroughfare which sees over 25,000 cars
daily.
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| Nicholas Meoli |
“After one month of marketing Woodland Bend through our proprietary national platform, our team was able to generate five offers,” says Hague. “We ultimately closed on an all cash basis with an investor who was in a 1031 exchange.”
“Due to the high amount of
activity that we received, we were able to guide the buyer to a quick 21-day
closing in order to keep their offer competitive.
"This transaction is a true
indication of how active the current multifamily market is, even in tertiary
markets such as Ocala,” concludes Hague.
For a complete copy of the company’s news release,
please contact:
Ari Ravi
Regional Manager
Tampa, FL
(813) 387-4700
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