Marcus & Millichap negotiated the sale of the newly constructed Lakes at Viera East Apartments in Viera, Fla.

The value of the transaction was $18.15 million.

A Tampa, Fla., investment partnership sold the property to an Amherst, N.Y.-based investment group.

The Lakes at Viera East is located at 1707 Sophias Drive. The class A property includes 200 garden-style units. The unit mix includes 72 one-bedroom, 88 two-bedroom and 40 three-bedroom floor plans, which range in size from 770 to 1,355 square feet. The property features a pool with cabana bar, fitness center, auto-care center, putting green, barbecue and picnic area, and RV storage.

Occupancy was 91 percent at the time sale.

Encino, Calif.-based Marcus & Millichap is a commercial real estate brokerage.


What’s your opinion? Send your Letter to the Editor to

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top
Refer friends to Select and get $200 in credit.Learn More×
Connect Now is just days away. Don't miss out.Reserve your seat today.×