Mid Atlantic Real Estate Journal — Owners, Developers & Managers — June 28 - July 11, 2013 — 17B
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O WNERS , D EVELOPERS & M ANAGERS In Selbyville, Delaware Sperry Van Ness – Miller sells apartment complex S
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ELBYVILLE, DE — Joey Gilkerson , advisor with Sperry Van Ness – Miller Commercial Real Estate in Salisbury, MD is pleased to announce the sale of Autumn Apartments on Cemetery Rd. Bradley Gillis, CCIM and Tom Knopp also of SVN – Miller served as co- brokers. The majority of the tenants at this 28 unit apartment com- plex are employed at the local Mountaire Farms plant. The seller of the apartment complex is retiring to the Caribbean and the complex was purchased by an investment firm from New Jersey. Gilkerson represented both the buyer and seller. The final sale price was $1.13 mil- lion. Gilkerson said, “This is a perfect example of national reach with local expertise. The purchaser was reached through a national marketing campaign and depended on local market knowledge to determine the stability of the employee base at Mountaire. The purchaser plans to continue to pursue and focus on purchasing other multifamily properties.” John McClellan, CCIM ,
Autumn Apartments
a senior advisor with Sperry Van Ness – Miller announced the Chapter 7 bankruptcy sale of two hotels in Coastal Delaware. SeaEsta III is lo- cated on Route 1 adjacent to Rudder Town in Dewey Beach and SeaEsta IV is located in “the forgotten mile” just south of Rehoboth Beach. McClellan worked closely with Bill Lucks of the SVN – Miller office in Lewes, DE to finalize the sale
of this portfolio. The original bankruptcy filing by Ocean Breeze LLC took place in January 2012. McClellan represented the bankruptcy trustee, New Jer- sey based Charles Forman and worked with the primary secured creditor, M&T Bank . The hotels continued to operate under management of Salis- bury based Marshall Hotels and Resorts. ■
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