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DAYTONA BEACH, FLA. — Marcus & Millichap has arranged the sale of a two-property, 384-unit multifamily portfolio in Daytona Beach for a total of $37 million.
Built in 1987, the 240-unit Lake Forest Apartments sold for $23.5 million, while the 144-unit Jade Park sold for $13.4 million. Situated side-by-side in a wooded lakeside setting, the communities are near the Daytona International Speedway, Volusia Square Mall, One Daytona and Daytona Beach International Airport.
Michael Donaldson and Nicholas Meoli of Marcus & Millichap represented the undisclosed seller and procured the undisclosed buyer in the deal.