Cushman & Wakefield Negotiates Sale of Oak Grove For $22 Million

18 Jun, 2008, Tampa, FL

Cushman & Wakefield’s Florida Apartment Brokerage Services with apartment specialists in Tampa, Orlando, Ft. Lauderdale and Miami, announce the sale of Oak Grove for $22,000,000. The purchaser was JL Real Ventures. Executive Director Byron Moger and Director Luis Elorza negotiated the sale on behalf of the owner, National Commercial Ventures.

Oak Grove, located in Biloxi, Mississippi at 248 Debuys Road, only six miles from Gulfport-Biloxi International Airport was built in 2000. It is a 274,568 square foot, 244-unit apartment community that offers a mix of 1, 2 and 3 bedrooms. Oak Grove provides its residents a swimming pool with Jacuzzi, fitness center and covered parking.

“JL Real Ventures recognizes the opportunity in this market. They acquired an asset with tremendous upside.” said Byron Moger of Cushman & Wakefield, Inc.

To view our current multifamily listings, please visit www.apartments.cushwake.com or contact:

CUSHMAN & WAKEFIELD CONTACT:

Byron Moger, Executive Director
Cushman & Wakefield, Inc.
813.204.5316
byron.moger@cushwake.com

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Cushman & Wakefield is the world’s largest privately held real estate services firm. Founded in 1917, the firm has 189 offices in 57 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. C&W also provides valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133, or visit the firm’s Web site at www.cushmanwakefield.com.

Apartment Brokerage Servicesof Cushman & Wakefield is positioned in 16 offices nationwide and staffed by over 100 brokerage professionals. This group has closed $8.1 billion in apartment sales, totaling over 107,000 units in over 400 transactions, during the past three years; and typically has +/- $5 billion in active listings. Apartment Brokerage Services is part of the worldwide Cushman & Wakefield organization, with over $20 billion in annual investment sales, and a full range of real estate services.

Florida Apartment Brokerage Services of Cushman & Wakefield has closed sales in excess of $3.5 billion since 2005 and is currently marketing properties worth more than $1.0 billion.

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