Friday, March 18, 2011

Marcus & Millichap Sells 20-Unit Apartment Property in St. Petersburg, FL for $365,000

ST. PETERSBURG, FL – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Sherwood Arms (top left photo), a 20-unit apartment property located in St. Petersburg, Fl-, according to Bryn D. Merrey, Regional Manager of the firm’s Tampa office.

The asset commanded a sales price of $365,000.

Michael P. Regan, an associate vice president investments, Francesco P. Carriera, a senior associate and Nicholas Meoli, a multifamily investment specialist all based in the 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 Regan, Carriera and Meoli.

Sherwood Arms was built in 1979 and is located at 2729 4th Street South.  “This property was a structured short sale and an all-cash transaction. Throughout the marketing process, we were able to procure over 10 offers” comments Meoli. 

 Press Contact: Bryn D. Merrey, Regional Manager, Tampa, (813) 387-4700

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