Marcus & Millichap Arranges $4.3 Million Sale of 55-Unit Treeview Villas in Holly Hill, FL

Adam Podbelski

HOLLY HILL, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Treeview Villas, a 55-unit apartment property located in Holly Hill, Fla., according to Grant Fitzgerald, sales manager of the firm’s Tampa office. The asset sold for $4,317,500.

Adam Podbelski, Ned Roberts, CCIM and Duane C. Anderson, investment specialists in Marcus & Millichap’s Tampa and Orlando offices, had the exclusive listing to market the property on behalf of the seller, a limited liability company.  

The buyer, a private investor, was also secured and represented by  Anderson, Roberts and Jason Hague, investment specialists in Marcus & Millichap’s Orlando and Tampa offices.   

“This was a true win-win for both seller and buyer.  For the seller we were able to realize a record price per unit for a property of the age and size.  

"At the same time the buyer is a acquiring a significant value-add opportunity, with in-place rents currently $200 per month below what can be achieved after renovations,” said Roberts, CCIM.

Duane C. Anderson

“This was a great acquisition for the buyer to add to their inventory in the Central Florida Market. There was a good amount of upside here making it a strategically good purchase,” added Anderson.

Built in 1980, all units in Treeview Villas are all two-bedroom, two-story townhomes. Treeview Villas is located at 913 Catherine Avenue in Holly Hill, Fla. 

CONTACT:

Davis, Whitney 
Whitney.Davis@marcusmillichap.com