Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Timbercreek Apartments, a 29-unit multifamily property in Miami, Florida, for $7.2 million.
“Timbercreek offered a rare opportunity to acquire a well-maintained apartment building in a highly sought-after market of south Miami-Dade County that has minimal ownership
turnover,” said Evan P. Kristol, executive managing director investments in Marcus & Millichap’s Fort Lauderdale office.
Kristol and Felipe Echarte, senior managing director investments, represented the seller, a private investor, and worked with a local broker who procured the buyer.
Timbercreek Apartments is located at 11098 SW 107th Street in Kendall. The community consists of two three-story buildings totaling 25,746 square feet with a mix of one- and two-bedroom units averaging 888 square feet. Apartments feature tile flooring, updated kitchens and bathrooms, and private balconies or patios.
Timbercreek is less than one mile from Miami Dade College–Kendall Campus, minutes from the Florida Turnpike and Kendall Drive retail, and within a 20-minute drive of Miami International Airport.
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.
