Marcus & Millichap, a leading real estate investment services firm, recently brokered the sale of Lucerne Apartments in Lake Worth Beach, Florida for $2.85 million and arranged acquisition financing of $1.98 million for the 14-unit multifamily property. Daniel Cunningham and Evan Richardson – both First Vice Presidents Investments at Marcus & Millichap’s Fort Lauderdale office – listed the asset on behalf of a private investor seller while River Rhoads and Dillon Majeski were responsible for securing an experienced New York-based private investor buyer. Additionally, Steve Goldwyn and David Purisch from MMCC’s Fort Lauderdale office secured financing to complete this successful transaction.
Cunningham commented that their exclusive listing process generated multiple list price offers which presented an excellent opportunity to purchase a stabilized well-located property in downtown Lake Worth Beach area with strong buyer demand especially for appropriately priced assets similar to Lucerne Apartments as noted by Richardson who added that they continue to see such demand across South Florida marketplaces today
