Marcus & Millichap Facilitates $13.875 Million Sale of Lomar West Apartment Portfolio in Hollywood Florida

HOLLYWOOD, Fla., July 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 West Apartment Portfolio, a four-building, 75-unit portfolio in Hollywood, Florida, which sold for $13,875,000 or $185,000 per unit.

Joseph Thomas, senior managing director of 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, and secured the buyer, Mendel Tiefenbrun of Tova Realty LLC. The properties were part of a larger 361-unit portfolio offered by Lomar and being sold by Marcus & Millichap in Hollywood, Fla.

The properties are located at 4933, 5141, 5420, and 5450 Hollywood Boulevard, between Interstate 95, State Road 7, and Florida's Turnpike.

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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.