Stigliano Closes 36-Unit Multi-Family Project

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Reese Stigliano, Senior Vice President of Brenner Real Estate Group, represented the seller in the sale of a 36-unit residential apartment complex located in Hollywood, FL.

The Seller was Akron Corporation a Miami Beach-based company.  The Buyer was Trust Real Estate Ventures LLC, a Hallandale Beach real estate investment company. The $1.125 million sale closed on February 28, 2013.

This is the second time Reese sold the property. In 2010 Reese represented JP Morgan Chase in the sale of the property to Akron Corporation. According to Charles Goodman, president of Akron Corporation, “When I bought the property from Chase, I was extremely impressed with Reese. Even though he represented the Seller, I had complete trust in him. He treated me honestly and was a consummate professional all the way through the transaction. When I purchased the property, there was no due diligence material. Reese was extremely helpful, answering questions and tracking down missing documents needed for the closing.”

According to Goodman, “When it came time to sell the property, Reese was the first person I called. I admired his knowledge, his tenaciousness and I knew he would do a good job for me.

“The property, built in the 50’s, was not an easy property to sell. The 36 units are spread out as 18 duplexes on 2 acres of land.”  said Reese. “Fortunately, I was able to use all the work I did on the first transaction, to make the second sale close without a hitch.”

 

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