Marcus & Millichap Brokers the Sale of the Commons at Davie Apartment Complex for $5.9M

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 Commons at Davie, a 36-unit apartment property located in Davie, Florida. The asset sold for $5,950,000.

“Marcus & Millichap’s nationwide platform was able to assist AB Asset Management in providing their investors with an excellent return due to their superior property management and impressive renovations over the last year,” said Felipe J. Echarte, Senior Vice President Investments.

Echarte, Evan P. Kristol and Brandon J. Rex, investment specialists in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller, AB Asset Management, led by Co-founders and Principals Getzy Fellig and Sam Zalmanov from Miami Beach, Florida.  The buyer, a private investor, was also secured and represented by Echarte, Kristol and Rex.

AB Asset Management is a vertically integrated real estate company based in Miami Beach. Their focus is on value added and opportunistic investments across various asset classes and geographies. They manage equity funds for select family offices and strategic partners.

The Commons at Davie is located at 5621 SW 36th Ct in Davie, Florida, within minutes of Interstate-95 and Florida’s Turnpike. The property consists of three two-story buildings situated on a 41,817 SF lot featuring a unit mix of 24 one-bedrooms and 12 two-bedroom apartments. The community is located just east of Davie Road, a heavily traveled commercial corridor featuring shopping, dining, and entertainment options for locals.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.