Investment Sales

HOLLY HILL, FLA. — Marcus & Millichap has arranged the sale of Regents Park, a 32-unit property in Holly Hill, 3 miles north of Daytona Beach. The asset sold for $4.6 million. Jason Hague and Ned Roberts of Marcus & Millichap marketed the property on behalf of the seller, locally based Carrot Properties, and procured the undisclosed buyer. Located at 660 8th St., Regents Park totals 28,798 square feet across three two-story buildings on a 5.5-acre lot. The community was built in 1986, and approximately 80 percent of the units have …

PEMBROKE PINES, FLA. — Chicago-based Waterton has acquired The Landings at Pembroke Lakes, a 358-unit property in Pembroke Pines, 20 miles southwest of Fort Lauderdale. The South Florida Business Journal reports that Coral Gables, Florida-based Bar Invest Group sold the asset for approximately $80.5 million. The 27-acre community is built around a 45-acre lake and features green spaces, outdoor amenities and lakefront beaches. The Landings at Pembroke Lake was developed in 1989 and includes one- and two-bedroom units with screened-in patios or balconies. Waterton is planning to upgrade unit appliances, …

JACKSONVILLE, FLA. — American Landmark Apartments, a Tampa, Florida-based private equity-backed multifamily investment manager and owner-operator, has acquired two properties in Jacksonville for an undisclosed price. Mirador Apartments at River City and Stovall Apartments at River City, two adjacent communities totaling 552 units were acquired from Revantage, according to the Jacksonville Business Journal, which also reports the assets were acquired in 2017 for $36 million. The properties will be rebranded as Levi at River City. The communities were developed in 2007 and offer a mix of one-, two- and three-bedroom …