RPH Multifamily Group CLOSES DEAL ON THREE MULTIFAMILY PROPERTIES IN OCALA FOR $11.65M
OCALA, FL, September 21, 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 three multifamily properties in Ocala, FL, according to David G. Bradley, regional manager of the firm’s Tampa office. The combined assets sold for $11,650,000.
Briarwood is a 56-unit apartment property located at 1709 NE 2nd Street in Ocala, FL. It sold for $6,250,000. The 14th Street Townhomes property is a 20,000-square-foot, 24-unit townhome-style property located at 1731 NE 14th Street in Ocala, FL. It sold for $2,525,000. Oak Crest Villas is a 27,776-square-foot, 32-unit apartment community located at 1630 NE 71st St. It sold for $2,875,000.
“This was a very arduous, but rewarding portfolio closing that consisted of one buyer and two unrelated sellers. It was certainly a team effort to get this one across the finish line,” said Hague, first vice president investments. “Despite being an off-market transaction, we were able to achieve a combined price per unit which was the 2nd highest ever in Marion County for multifamily properties under 150 units. It’s a true testament of the bullishness many investors are continuing to feel for Florida, especially in the more tertiary submarkets that had not seen nearly as much attention even just a few years prior.”
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 of the Briarwood property, a limited liability company and the seller of the 14th Street Townhomes and Oak Crest Villas property.
The buyer of the triple portfolio, a limited liability company, was also secured and represented by Hague, Podbelski, and Roberts.
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