Marcus & Millichap Brokers $88.4M Sale of Multifamily Portfolio in Florida

TAMPA, FLA. — Marcus & Millichap has brokered the $88.4 million sale of the Tripointe Value-Add Portfolio, a six-property multifamily portfolio located throughout Central and North Florida. Michael Donaldson and Nicholas Meoli of Marcus & Millichap’s Tampa office arranged the transaction on behalf of the seller, an Ohio-based limited liability company, and procured the buyer, a Tampa-based limited liability company. The properties in the transaction included The Palms at Brandon, a 184-unit community in Brandon, roughly 12 miles east of Tampa; the 154-unit Bradford Place in Orange Park, about 20 miles south of Jacksonville; the 168-unit Mallards of Brandywine in Deland, approximately 40 miles north of Orlando; Marsh Oaks, a 120-unit community in Atlantic Beach, roughly 16 miles east of Jacksonville; the 200-unit San Pablo in Jacksonville; and Shadow Lakes, a 184-unit community in Ormond Beach, located six miles north of Daytona Beach. The communities feature amenities such as swimming pools, car was areas, tennis courts, fitness centers and playgrounds.