Marcus & Millichap Facilitates Sale Of 84-Unit Apartment Portfolio In Hollywood

Marcus & Millichap negotiated the sale of The Lomar North Apartment Portfolio, a 16-building, 84-unit portfolio in Hollywood.

The portfolio sold for $15,540,000

The Lomar North Apartment Portfolio consists of 16 apartment buildings totaling 84 units built between 1960 and 1967. The properties were sold by the family of the original developer.

The portfolio is located northeast of Presidential Circle, north of Hollywood Boulevard and west of North 35th Avenue near Florida’s Turnpike and Interstate 95, and proximate to Memorial Regional Hospital, Joe DiMaggio Children’s Hospital, and the Seminole Hard Rock Hotel & Casino.

Joseph Thomas, senior managing director investments, in collaboration with team members Alec Demetriou, AJ Stanford, Adam Marcuvitz and Oscar Banegas, investment specialists in Marcus & Millichap’s Fort Lauderdale and Miami offices, had the exclusive listing to market the property on behalf of the seller, Lomar Property Group LLC, and secured the buyer, Pulso Hollywood LLC.

This sale is part of a larger 361-unit portfolio offered by the seller in Hollywood. The Marcus & Millichap team also recently sold 2307 Taylor Street in Hollywood on behalf of the seller.