TAMPA, FL – Realty Asset Advisors has announced the sale of the Marquis Apartments (photos above and at right) in Tampa, Florida for $7,850,000. The sales price represents $56,071.43 per unit and $64.60 per square foot.Realty Asset Advisors’ principal and investment advisor Tim Johnson represented the Seller in the transaction. Mr. Johnson and RAA cooperated with Frank Leto of Great American Realty to secure the Buyer through RAA’s competitive marketing process. The Seller was Marquis Apartments, LLC, based in Largo, Florida. The Buyer was Sabina Properties, LLC, a South Florida based corporation.
“The Marquis Apartment community is well located in the Central Tampa submarket - near both major transportation routes and area shopping,” states Johnson, a Principal and Investment Advisor for Realty Asset Advisors. “The Marquis Apartments traded competitively at 95% of the Marketed Price and will offer the new owner immediate upside through both rent growth and operational expense reductions.”
“In spite of overall economic uncertainty at both local, and national levels, the Marquis Apartments transaction illustrates the inherent and underlying demand for quality Florida investment real estate, comments Mr. Johnson.”
Built in 1969 and renovated in 2000, The Marquis Apartments consist of 140 units situated on well landscaped grounds. The community has a tota
l of fourteen 2-story buildings with solid block construction and pitched roofing. The property features a central courtyard, pool area, laundry facility, and plenty of parking.
Realty Asset Advisors, located in Tampa, is a real estate investment brokerage services company with a primary focus on the multifamily and retail markets of Tampa Bay and Central Florida. The firm provides a range of advisory services including Seller representation, marketing, transactional support, research services and property performance evaluations.
Built in 1969 and renovated in 2000, The Marquis Apartments consist of 140 units situated on well landscaped grounds. The community has a tota
l of fourteen 2-story buildings with solid block construction and pitched roofing. The property features a central courtyard, pool area, laundry facility, and plenty of parking.Realty Asset Advisors, located in Tampa, is a real estate investment brokerage services company with a primary focus on the multifamily and retail markets of Tampa Bay and Central Florida. The firm provides a range of advisory services including Seller representation, marketing, transactional support, research services and property performance evaluations.
CONTACT:
Timothy Johnson
Managing Partner
Realty Asset Advisors, LLC
1311 N. Westshore Blvd.
Suite 201
Managing Partner
Realty Asset Advisors, LLC
1311 N. Westshore Blvd.
Suite 201
PH: (813) 574-2200
FX: (813) 333-9710
Tampa, Florida 33607
http://www.raadvisors.com/
http://www.raadvisors.com/
