Marcus & Millichap’s IPA Division Brokers $90.5 Million Sale Of 400 Multifamily Units In West Palm Beach
The sale is one of the largest condominium-to-multifamily rental conversions in Florida.
The sale is one of the largest condominium-to-multifamily rental conversions in Florida.
The transaction marks the first partnership between the two firms.
The 43,878-square-foot professional building located within PGA Station sold for $15.5 million.
The building sold for $15.3 million.
The asset traded for $21.5 million.
IPA’s Kirk Olson and Drew A. Kristol represented the seller and procured the buyer.
The two-building, 74,103-square-foot industrial asset sold for $12.4 million.
Marcus & Millichap’s Doug Mandel and Tyler Kuhlman had the exclusive listing to market the portfolio on behalf of the seller and procured the buyer, a Florida-based private investor.
Douglas Mandel, along with Tyler S. Kuhlman and Zachary Levine of Marcus & Millichap, represented the seller in the transaction.
Kirk Olson and Drew A. Kristol represented the seller, an institutional investor with several offices throughout the country and procured the buyer, Benderson Development.
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