Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of the Lomar West Apartment Portfolio, a four-building, 75-unit portfolio in Hollywood, Florida which sold for $13,875,000 or $185,000 per unit.
Joseph Thomas, senior managing director of investments, in collaboration with team members Alec Demetriou, AJ Stanford, Adam Marcuvitz, and Oscar Banegas, investment specialists in Marcus & Millichap’s Fort Lauderdale and Miami offices, had the exclusive listing to market the property on behalf of the seller, Lomar Property Group, and secured the buyer, Mendel Tiefenbrun of Tova Realty LLC.
The Lomar West Portfolio consists of 16 apartment buildings totaling 84 units built between 1960 and 1967. The properties were sold by the family of the original developer. The properties are located at 4933, 5141, 5420, and 5450 along Hollywood Boulevard, between Interstate 95, State Road 7, and Florida’s Turnpike. The properties are located near several popular destinations, such as the Orangebrook Gold and Country club, Memorial regional hospital, and Regus Hollywood Presidential Circle.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 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 our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
