Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of The Haven Apartments, a 56-unit multifamily community in Pompano Beach, Florida, for $10 million.
“The property is located directly behind a Publix-anchored shopping center that is currently being developed on the corner of Sample Road and Federal Highway in Pompano Beach,” said Daniel Cunningham, senior vice president investments. “The buyer, Matthew Paul, owner of MAP Communities, saw significant upside in aligning rents with market rates while capitalizing on rising property values that are being driven by surrounding development along Federal Highway’s commercial corridor, as well as the property’s prime location adjacent to Lighthouse Point.”
Cunningham, Evan Richardson, River Rhoads, Dillon Majeski and Cory Sanchez, investment specialists in Marcus & Millichap’s Fort Lauderdale office, exclusively marketed the property on behalf of the seller and procured the buyer, both Florida-based investors.
Located at the corner of NE 16th Terrace and NE 33rd Street, Haven Apartments is a 56-unit community consisting of seven contiguous two-story buildings constructed between 1969 and 1970. Nearby retail centers include Shoppers Haven, which is adding a new Publix, and Venetian Isles Shopping Center. The property is also just minutes from Pompano Citi Centre, the Pompano Beach Innovation District and the Pompano Beach Pier.
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.
