Press Releases
Marcus & Millichap Arranges $6.2 Million Sale of Multifamily Property in Royal Palm Beach
May 21, 2025
ROYAL PALM BEACH, Fla., May 21, 2025 – 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 Timbercreek Townhomes and Villas, a 20-unit multifamily community in Royal Palm Beach, Florida, for $6.2 million.
“This rare opportunity involved the only rental building in the city of Royal Palm Beach between 20 and 199 units,” said Evan P. Kristol, executive managing director investments. “Located directly across the street from Veteran’s Park and walking distance to two ‘A’-rated schools, as well as having all three-bedroom apartments averaging 1,575 rentable square feet, makes it a coveted rental choice for families. The property was acquired by a California-based buyer who was completing a 1031 exchange.”
Evan P. Kristol and Brandon Rex, investment specialists in Marcus & Millichap’s Fort Lauderdale office, exclusively marketed the property on behalf of the seller, a private syndicator, and procured the buyer, a California investment group.
The property, located at 100 Sparrow Drive, consists of four one- and two-story buildings constructed in 1980 on a 2.5-acre site. Community amenities include a gated swimming pool, gazebo and landscaped grounds. Interior features include in-unit washers and dryers, granite countertops, large walk-in closets and private patios or balconies.
“This rare opportunity involved the only rental building in the city of Royal Palm Beach between 20 and 199 units,” said Evan P. Kristol, executive managing director investments. “Located directly across the street from Veteran’s Park and walking distance to two ‘A’-rated schools, as well as having all three-bedroom apartments averaging 1,575 rentable square feet, makes it a coveted rental choice for families. The property was acquired by a California-based buyer who was completing a 1031 exchange.”
Evan P. Kristol and Brandon Rex, investment specialists in Marcus & Millichap’s Fort Lauderdale office, exclusively marketed the property on behalf of the seller, a private syndicator, and procured the buyer, a California investment group.
The property, located at 100 Sparrow Drive, consists of four one- and two-story buildings constructed in 1980 on a 2.5-acre site. Community amenities include a gated swimming pool, gazebo and landscaped grounds. Interior features include in-unit washers and dryers, granite countertops, large walk-in closets and private patios or balconies.
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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, 2024, the company had 1,712 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
