Multifamily Investment Property Sales

The Babb Group of Marcus & Millichap represents private-client Sellers of large and small multifamily properties throughout the Tampa Bay area as well as Central and SW Florida. We employ sophisticated, in-depth, forward looking underwriting and market positioning to deliver superior results for our clients and their properties. In addition, we pride ourselves in maintaining a strong commitment to quality brokerage by providing our clients with actionable advice, real time deal feedback and market knowledge which ultimately allows our clients to maintain leverage in the transaction. Widely recognized for our expertise and deal making abilities, our team regularly delivers a multitude of offers which allows us to strengthen offer prices, minimize contingency periods and create optimal buyer performance.

 

Maximizing Value for our Seller Clients

  • Professional representation and high quality marketing materials
  • Sophisticated, forward looking underwriting and market positioning
  • Unparalleled national marketing platform which allows us to access the largest pool of qualified investors in the industry
  • Real time communication and market feedback which allows our Sellers to maintain deal leverage
  • Proactive due diligence and transaction management

 

Multifamily Land Sales

The Babb Group of Marcus & Millichap is one of the only apartment specialists in the Tampa Bay to also offer expertise in multifamily land sales. Over the years our team has closed numerous institutional apartment land sales as well as sales of infill, fee-simple townhome and commercial mixed-use redevelopment sites. We offer a variety of services including site selection, buyer and seller representation, consulting and strategic planning. Our land practice is no different from our core multifamily sales business in that we first conduct sophisticated, in-depth underwriting and exhaustive market analysis to determine the residual land value before implementing the appropriate marketing strategy to deliver optimal results. While most land brokers pound a sign in the ground and wait, our team proactively markets the site to our extensive investor/developer database to create a wave of momentum which culminates with multiple offers and optimal results for our clients. We provide multifamily land services for the following product types:

  • Institutional Garden Apartment Sites (ie. Suburban and Infill; Capable of supporting 150+ Units)
  • Institutional Urban Apartment Sites (Ie. Mid & High Rise; Capable of supporting 150+ Units)
  • Fee Simple Townhome Sites (Ie. Typically urban infill, Class A Locations)
  • Waterfront mixed-use and/or condominium sites

 

Valuation Services

The professionals who make up The Babb Group of Marcus & Millichap possess deep financial and analytical backgrounds as well as over 35 years collective experience which allows us to stay at the forefront of an ever-changing marketplace. More importantly, it allows us to offer accurate and reliable valuations and recommendations for our clients. We have underwritten over $1 Billion worth of real estate assets just in the Tampa Bay area alone and because of the volume of transactions we handle in a given year we are constantly in contact with today’s buyer pool so we are able to stay current with different investment perspectives and market valuations. Understanding subtle nuances in cap rates property to property and submarket to submarket along with internal rates of return and cash-on-cash requirements are essential in being able to provide dependable broker opinions of value. Because of our constant interaction with buyers, appraisers, lenders and other market participants we are able to continually refresh our market knowledge and stay plugged in like very few others in our industry. Some of the properties we’ve underwritten in the past on behalf of clients include:

  • Conventional Apartment Communities
  • Institutional Land Assets
  • Fee-simple Townhome Sites
  • LIHTC Communities
  • HUD Properties
  • Fractured Condominiums
  • Condominium Conversions
  • Student Housing Properties
  • Loan Sales
  • Joint Ventures & Recapitalizations

 

Capital Markets

The Babb Group works in tandem with our in-house Marcus & Millichap Capital Corp team to source new debt and advise on complex CMBS and Agency loan assumptions for our clients. Through MMCC and their national network of capital sources we deliver the most competitive rates along with the most reliable execution for new acquisitions, refinancing, development and redevelopment transactions. Our hands on approach to marketing, due diligence management and the capital markets side of the deal ensures complete control of the transaction process and a smooth and successful outcome. In addition, we consult with MMCC at the Broker Opinion of Value stage to ensure that we know which financing options are available for a particular asset and what the financing terms will look like so that we know where to price the property and also how to advise the prospective buyers during the transaction. This intimate relationship with MMCC and real time knowledge of the capital markets in turn allows us to push price in the case where a buyer made inaccurate assumptions on the financing side of their internal underwriting. It is a powerful relationship and it provides a benefit to our clients which is not easily matched by other brokers.