- RPH Multifamily Group
RPH Multifamily Group Brokers the Sale of a Three-property Portfolio in the Heart of Ocala
OCALA, FL, September 28, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 99-unit, contiguous three-property portfolio situated in the heart of Ocala, FL, according to David G. Bradley, regional manager of the firm’s Tampa office. The combined asset sold for $11,350,000.
The three multi-family properties include Ashley Court, a 33-unit apartment property located at 2281 NE 2nd St, Ocala, FL; Azalea Garden, a 34-unit apartment located at 2311 NE 2nd St, Ocala, FL; and Regency Apartments, a 32-unit apartment located at 2205 NE 2nd St, Ocala, FL.
Jason Hague, Adam Podbelski, and Ned Roberts, investment specialists of the RPH Multifamily Group in Marcus & Millichap’s 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 also secured and represented by Hague, Podbelski and Roberts.
“This was another three-property portfolio we closed in Ocala in the span of two weeks,” said Hague. “It was a unique closing in that the buyer had to simultaneously assume two separate agency loans while also closing a new loan for the third, unencumbered property. We successfully overcame numerous hurdles associated with the assumptions and ultimately closed at a record-breaking price per unit for under 150-unit properties in Marion County.”
All three properties offer a unit mix of one- to two-bedroom units. Amenities featured on the properties include two swimming pools, two on-site laundry facilities, washer/dryer connections in every unit at Ashley Court, a leasing office, and ample green space to add additional outdoor amenities.
The subject properties are located just ¼ mile north of the major thoroughfare, East Silver Springs Boulevard (SR40), which houses much of the retail, entertainment, and restaurants in the immediate area.
Are you interested in selling or buying Florida multifamily housing?
At RPH Multifamily Group we strictly specialize in Florida multifamily sales, so that you can make the most successful, informed, and stress-free multifamily investment decisions. Learn more about the RPH Multifamily Group’s Florida Multifamily Sales Advisory And Brokerage Services.