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Marcus & Millichap Facilitates $15.5 Million Sale of 84-Unit Lomar North Apartment Portfolio in Hollywood, Florida

June 11, 2024

FORT LAUDERDALE, Fla., June 11, 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 The Lomar North Apartment portfolio, a 16-building, 84-unit portfolio, in Hollywood, Florida. The portfolio sold for $15,540,000. 

Joseph Thomas, senior managing director investments, in collaboration with team members Alec Demetriou, AJ Stanford, Adam Marcuvitz and Oscar Banegas, investment specialists in Marcus & Millichap’s Fort Lauderdale and Miami offices, had the exclusive listing to market the property on behalf of the seller, Lomar Property Group LLC, and secured the buyer, Pulso Hollywood LLC. This sale is part of a larger 361-unit portfolio offered by the seller in Hollywood, Fla. The Marcus & Millichap team also recently sold 2307 Taylor Street in Hollywood, Fla., on behalf of the seller. 

The Lomar North Portfolio consists of 16 apartment buildings totaling 84 units built between 1960 and 1967. The properties were sold by the family of the original developer. 

The portfolio is located northeast of Presidential Circle, north of Hollywood Boulevard and west of North 35th Avenue near Florida’s Turnpike and Interstate 95, and proximate to Memorial Regional Hospital, Joe DiMaggio Children’s Hospital, and the Seminole Hard Rock Hotel & Casino.

 

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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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