Ashley Court, Azalea Garden, Regency Apartments sell for $ 11.35 million


Ashley Court, Azalea Garden and Regency Apartments in northeast Ocala were sold for $ 11.35 million.

According to a press release from Marcus & Millichap, a commercial real estate brokerage firm specializing in the sale of investments, the portfolio of 99 adjoining units of three properties was sold for $ 11,350,000

The seller and buyer are both limited liability companies represented by Jason Hague, Adam Podbelski and Ned Roberts, investment specialists from RPH Multifamily Group in the Marcus & Millichap office in Tampa.

“This was another portfolio of three properties that we closed in Ocala in the space of two weeks,” Hague said. “It was a unique close in that the buyer had to simultaneously take on two separate agency loans while securing a new loan for the third unencumbered property. We successfully overcome many hurdles associated with assumptions and ultimately closed at a record price per unit for properties under 150 units in Marion County.

The three multi-family properties include Ashley Court, a 33 unit apartment building located at 2281 NE 2nd Street, Azalea Garden, a 34 unit apartment located at 2311 NE 2nd Street, and Regency Apartments, a 32 unit apartment located at 2205 NE 2nd Street.

All three properties offer a mix of one to two bedroom units.


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