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| Summerhill at Meadowcrest, a 28-unit apartment community, 6000 West Poplar Springs Circle, |
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| Jason Hague |
CRYSTAL RIVER, FL – Marcus & Millichap (NYSE: MMI), a leading commercial real estate
brokerage firm specializing in investment sales, financing, research and
advisory services, announced the sale of Summerhill at Meadowcrest, a 28-unit
apartment property located in Crystal
River, Fla.,
according to Chris Travis, regional manager of the firm’s Tampa office.
The asset sold for $2,900,000.
Jason Hague, Adam
Podbelski, Ned Roberts, CCIM, investment
specialists 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 the same brokers.
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| Adam Podbelski |
“Summerhill was
a typical multifamily transaction until COVID-19 hit the US, at which point all
semblance of a typical transaction went out the window," said Hague.
"Our team was able to expertly navigate
the due diligence period despite the fact we were dealing with an international
investor during a worldwide pandemic.
"It took a couple extra months to close
due to delays with third parties. Meanwhile, keeping the buyer engaged and
excited about the deal despite the uncertain times we were dealing with.”
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| Ned Roberts |
Summerhill at
Meadowcrest is located at 6000 West Poplar Springs Circle in Crystal River,
Fla.
The community offers an attractive unit mix of two- and three-bedroom units
with above average floor plans averaging 1,360-square feet.
Summerhill
at Meadowcrest is located just minutes away from the Suncoast Parkway Extension
which has potential to bring substantial growth to the immediate area.
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CONTACT:
Whitney Davis
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Marketing Coordinator
Certified Agent Support Specialist
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