The property, located at 9444 Harbour Point Drive, is a281,680-sf apartment complex that stretches across 15 acres ofland. Constructed in 1999, the complex is in mint condition withfull amenities, including a pool, fitness center, spa, children'splayground and business center with computers, according toBlomsterberg.

The Marcus & Millichap team of Ken Blomsterberg and StanJones represented both companies in the transaction, which workedout to a sale price of $98,571 per unit. Chase Capital Partners wasthe equity partner with Groupie, and First Union was the lender onthe deal, with an 8.34% capital rate on current income.

"It's a newly constructed property in a bull's-eye location,"Blomsterberg told "The property's clean as a whistleand each unit has a washer/dryer and fireplace."

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