Marcus & Millichap Brokers Central Broward County Multifamily Asset Sale
The asset, which consists entirely of two-bedroom/two-bathroom units that average 916 square feet, traded for $23 million, or $198,276 per unit.
The asset, which consists entirely of two-bedroom/two-bathroom units that average 916 square feet, traded for $23 million, or $198,276 per unit.
The center was 92% occupied at the time of sale.
Adam Marcuvitz, Joseph P. Thomas and Alec Demetriou, investment specialists in Marcus & Millichap’s Fort Lauderdale office, represented the seller in the transaction.
Evan Kristol along with Felipe Echarte, investment specialists in Marcus & Millichap’s Fort Lauderdale office, represented the seller and procured the buyer.
Jonathan De La Rosa and Eddie Toledo, investment specialists in Marcus & Millichap’s Miami office, represented the sellers in the transaction.
Alex Zylberglait and Michael Crocchiola of Marcus & Millichap and Roy Faith of FIP Commercial were the brokers in the transaction.
The sale price equates to more than $653 per square foot.
Kirk Olson and Drew Kristol, Marcus & Millichap senior managing director investments, represented the seller, Galium Capital, and procured the buyer, an affiliate of JBL Asset Management.
Marcus & Millichap’s Doug Mandel, Zach Levine and Cody Hershey exclusively marketed the property on behalf of the seller and procured the buyer.
Alex Zylberglait and Michael Crocchiola, director investments, represented the seller, a private owner.
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