Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Lexington Court in Tampa, Florida. The property sold for $4,375,000.
“Amidst a challenging debt environment, the RPH Multifamily Group of Marcus & Millichap sourced an experienced buyer who was able to acquire this asset via a nearly all-cash transaction, with a limited portion of the purchase price financed by the seller,” said Ned Roberts, CCIM first vice president of investments.
Roberts and Jason Hague, investment specialists in Marcus & Millichap’s Tampa office, had the exclusive listing to market the property on behalf of the seller, Lakshmi, LLC and procured the buyer, YB Acquisitions, LLC.
Built in 1962, Lexington Court offers 42 1-level units ranging from 1 bed/1 bath to 2 beds/1.5 baths. Amenities include convenient on-site parking options, tile floors, and high-speed internet access. Units range from 575 to 770 square feet. The property is situated two miles from the University of South Florida and only 1.8 miles from RITHM @ Uptown, a one billion-dollar development under construction.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion.
