FORT LAUDERDALE, FL—It was almost converted to condos, but the new owners—foreign buyers—instead will look to drive up rents at this luxury multifamily project. Harbour Pointe Villas just traded for $9.2 million, which equals $270,618 per door.

Evan P. Kristol and Still Hunter III, senior vice presidents at Marcus & Millichap, and Joseph P. Thomas, a vice president of Investments, had the exclusive listing to market the property on behalf of the seller, a limited liability company from Encino, Calif. M&M's Kristol, Hunter, Thomas and Adam Duncan, an investment specialist, represented the buyer, private investors from Belgium.

“Harbour Pointe Villas and Docks offered the rare opportunity for an investor to acquire a truly best in class boutique apartment community in a AAA location with upside,” says Thomas. “We received bids at and above the asking price, which speaks to the quality of the asset.”