Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Crossings at Cape Coral, a 168-unit multifamily property located in Cape Coral, according to Ryan Nee, vice president / regional manager of the firm’s Fort Lauderdale office. The asset sold for $13,400,000.

1150 Hancock Creek South Boulevard in Cape Coral, FL. The property is a 168- unit affordable LIHTC community situated just south of Pine Island Road between Cleveland Avenue (SR 41) and Del Prado Boulevard.

“Crossings at Cape Coral offered the opportunity to acquire a well-maintained, stabilized community with strong occupancy,” continues Kristol.

Kristol had the exclusive listing to market the property on behalf of the seller, a limited liability company, and represented the buyer, a private investor.

About Marcus & Millichap (NYSE: MMI)

With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com