Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the $9.5 million sale of Somerset Lakes Condos, a 68-unit condominium community in Lauderdale Lakes, Florida.
The buildings are part of Somerset Lakes, a master-planned community totaling 1,800 units across 25 four-story buildings, each with its own association.
“This transaction underscores the continued demand for value-add opportunities in South Florida’s multifamily market,” said Austin Michels, associate director investments. “The sale of Somerset Lakes Condos at full asking price highlights how investors are still aggressively pursuing well-located assets, particularly when favorable seller financing terms are on the table.”…