Marcus & Millichap Closes Sale of Lakeland Community

The Florida property changed hands for $7.4 million.
Jasmine Homes

Jasmine Homes, Lakeland, Fla.

Lakeland, Fla.Marcus & Millichap recently closed on the $7.4 million sale of Jasmine Homes, a 120-unit garden-style community located in Lakeland.

Nicholas Meoli and Michael Donaldson, vice presidents of Marcus & Millichap, led the marketing efforts on behalf of the undisclosed seller and procured the undisclosed buyer, a limited liability company.

“Located in a sought after area in Lakeland, Jasmine Homes is surrounded by new developments and easy access to Interstate 4, which allows for a quick commute to several destinations between the two major area metros, Tampa and Orlando,” said Meoli in a prepared statement.

“Population growth and organic rental growth continue to climb within the Interstate 4 corridor making Jasmine Homes a well-positioned property for a long term investment,” added Donaldson.

The community, which includes 20 two-story residential buildings, is located at 3215 Baird Ave. Amenities include a swimming pool, Wi-Fi, dog park, playground, on-site laundry facilities, racquetball court and a two-story building which serves as a clubhouse and leasing office.

Image courtesy of Marcus & Millichap