Florida apartment complex changes hands

Property comprises more than 240,000 square feet

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Marcus & Millichap brokered the sale of the 275-unit San Marco Apartments in Miami, Fla. The value of the transaction was $28.6 million. San Marco Apartments is located at 8842 Fontainebleau Blvd. The property, constructed in 1971, includes 243,320 rentable square feet with a unit mix comprised of 99 one-bedroom and 176 two-bedroom apartments. The units range in size from 680 square feet to 1,000 square feet. A Miami-based entity purchased the property from a West Palm Beach-based limited partnership. Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....