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| Osprey Landings, 1756 South Clyde Morris Boulevard, Daytona Beach, FL |
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| Michael P. Regan |
DAYTONA BEACH, FL, Oct.
18, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial
real estate investment services firm with offices throughout the United States
and Canada, today announced the sale of Osprey Landings, a 108-unit
apartment property located in Daytona Beach, Fla., according to Ari Ravi,
regional manager of the firm’s Tampa office.
The
asset sold for $11,700,000.
Francesco P. Carriera and Michael P.
Regan, investment specialists in Marcus & Millichap’s Tampa office, had
the exclusive listing to market the property on behalf of the seller, a private
investor.
The buyer, a private investor, was also secured and
represented by Carriera and Regan.
“The buyer saw an opportunity to continue a proven interior
upgrade in exchange for monthly rent premiums to the tune of $270-$300,” says
Mr. Regan.
Osprey Landings is a 108-unit multifamily community located in
Volusia County’s Daytona Beach, Fla.
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| Francesco P. Carriera |
The property was built in 1985 and features a
unit mix of 33 percent one-bedroom/one-bathroom units with 700 rentable square
feet and 67 percent two-bedroom/two-bath units with 1,000 rentable square feet.
The community amenities include a basketball
court, fitness center, picnic areas, scenic lakes views, tennis court and
swimming pool.
Osprey Landings is located at 1756 South Clyde Morris Boulevard
in Daytona Beach, Fla.
CONTACT:
Ari Ravi
Regional Manager, Tampa
(813) 387-4700
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