
Marcus & Millichap Brokers Sale, Arranges Financing for S. Florida Multifamily
Marcus & Millichap has announced the sale of Lucerne Apartments, a 14-unit apartment property located in Lake Worth, FL for $2.85 million. Marcus & Millichap Capital Corporation arranged the $1.98 million acquisition financing.
“Our exclusive listing process generated multiple list price offers,” said Daniel Cunningham, first vice president investments. “The property presents the buyer with an excellent opportunity to purchase a stabilized, well-located property in downtown Lake Worth Beach.”
“We continue to see strong buyer demand, especially for well-located and appropriately priced assets similar to the Lucerne Apartments,” added Evan Richardson, first vice president investments
Cunningham, Richardson, River Rhoads, and Dillon Majeski of Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, a private investor, and secured the buyer, a New York-based private investor.
Capital markets originators Steve Goldwyn and David Purisch of MMCC’s Fort Lauderdale office secured the financing.