Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

Marcus & Millichap negotiated the sale of the 461-unit Jasmine at Clearwater Apartments in Clearwater, Fla. The value of the transaction was $24 million. Newport Beach, Calif.-based Lyon Management sold the property to a Chicago partnership. Jasmine at Clearwater is located at 6550 150th Ave. North. The sale includes 371,604 rentable square feet on 36 acres. The property was constructed in 1985 with a unit mix comprised of 93 studios, 156 one-bedroom and 212 two-bedroom apartments, ranging in size from 539 to 973 square feet. Jasmine at Clearwater includes lighted tennis courts, racquetball courts, two clubhouses with a fitness center, two lakeside swimming pools, basketball and sand volleyball courts. Occupancy was 92.5 percent at the time of sale. Encino, Calif.-based Marcu...