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Marcus & Millichap Brokers the Sale of a 30-Unit Coral Springs Apartment Building for $8.1 Million

March 07, 2023

CORAL SPRINGS, Fla., Mar. 07, 2023 – 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 Fairway Views, a five-story, 30-unit apartment complex in Coral Springs, Florida. The asset sold for $8,100,000.

“We sold Fairway Views to the seller over 20 years ago,” said Evan P. Kristol, executive managing director investments. “Coral Springs only has a handful of rental buildings that trade each year, so this is a very unique sale. The property was converted to condominiums 15 years ago but put back together after the seller acquired the remaining units in 2022.”

Kristol, Brandon J. Rex 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, a private investor. The buyer, also a private client, was also procured by Kristol, Rex, and Michels.

Fairway Views is located at 8740 N.W. 40th St. between Wiles Road and Sample Road, just east of North University Drive. Built in 1986 and situated on a 1.51-acre site, the boutique apartment community offers a unit mix of 30 two-bedroom/two-bath apartments. Property amenities include a secured lobby with telephone entry, central elevator, trash chutes, two stairwells, expansive landscaped grounds with fruit trees, 73 surface parking spaces, and a quiet residential setting.

 

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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, 2022, the company had 1,904 investment sales and financing professionals in 81 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 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.

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