Marcus & Millichap : Brokers Sale of Water Bridge Villas in Sunrise Florida
April 09, 2024 at 02:49 pm EDT
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Marcus & Millichap Brokers Sale of Water Bridge Villas in Sunrise Florida
April 09, 2024
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SUNSHINE, Fla., April 9, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Water Bridge Villas in Sunrise, Florida, for $1,220,000.
"The Waterbridge Apartments was an excellent opportunity for an owner to acquire a smaller deal without using debt to avoid paying the higher costs of windstorm insurance," said Felipe Echarte, senior vice president investments.
Echarte, Evan Kristol, and Austin Michels, investment specialists in Marcus & Millichap's Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller and secured the buyer, both Florida-based LLCs.
The six-unit multifamily building is located at 5820 NW 12th St., situated on a 0.40-acre waterfront lot. The property comprises one-, two-, and three-bedroom units, with five of the six units updated with new kitchens and bathrooms. Additionally, each unit includes a washer/dryer and storage space, with water views overlooking a canal.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. 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, 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 clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
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Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
MARCUS & MILLICHAP, INC. 
