Marcus & Millichap: Brokers of the sale of a Class B multi-family complex for $5.1M

LEESBURG, Fla., February 25, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, today announced the sale of Bentley Villas, a one-story, 48-unit apartment property located in Leesburg, Fla., according to David G. Bradley, regional manager of the company’s Tampa office. The 41,074 square foot property sold for $5,160,000.

Bentley Villas is located at 1175 Bentley Rd in Leesburg, Florida. Built in 1988, the 4.67 acre lot consists of 13 buildings comprising a mix of one, two and three bedroom units.

Jason Hague, Adam Podbelski, Duane C. Anderson and Ned Roberts of RPH Multifamily Group of Marcus & Millichap’s Tampa office had the exclusive listing to market the property on behalf of the seller, Bentley Apartments, LLC. The buyer, RJC Bentley Villas, LLC, was purchased by the RPH Multifamily Group.

“The sale of Bentley Villas is further confirmation of the tremendous demand we are seeing from investors looking to purchase workforce housing across the state. The buyer has not only paid a record price per unit for Leesburg, but it also had to take on the seller’s low-leverage Freddie Mac loan,” said Hague, senior vice president of investments. “For investors familiar with this process, they understand that these Agency assumptions are a long and tedious process that can take months. Ultimately, the buyer was optimistic about the immediate submarket and felt the upside in rental and future property appreciation was worth it. expect.”

The property was recently remodeled to include granite countertops, new tile, new appliances, additional washer/dryers in the on-site laundry room, and new light fixtures.

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About Marcus & Millichap (NYSE: MMI)

With more than 2,000 investment sales and financing professionals across the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and services. -advice. Founded in 1971, the firm closed 8,954 deals in 2020 worth around $43 billion. Marcus & Millichap has developed a powerful property marketing system that combines investment specialization, local market expertise, the most comprehensive research in the industry, cutting-edge technology and relationships with the largest pool of investors. qualified. To learn more, please visit:


Marcus & Millichap Inc. published this content on February 25, 2022 and is solely responsible for the information contained therein. Distributed by publicunedited and unmodified, on February 25, 2022 21:32:44 UTC.

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