Marcus & Millichap Arranges the $2.75 Million Sale of 30-Bed Community Near University of West Florida

by Katie Sloan

Pensacola, Fla. — Marcus & Millichap has arranged the $2.75 million sale of Utopia Cottages, a 30-bed student housing community located near the University of West Florida campus in Pensacola. 

The property offers a mix of three- and four-bedroom units across eight buildings. Matthew Prozzillo and Benjamin Skinner of Marcus & Millichap represented the seller, Haken Holdings, and procured the buyer, MMC Realty Holdings LLC, in the transaction. The property was developed in 2020 and is located at 9822 Utopia Drive. 

“This transaction marks the buyer’s entry into the Florida market after historically investing in the northeast,” says Prozzillo. “The buyer was attracted to the Utopia Cottages due to its close proximity to University of West Florida, the asset being newly built and the strong enrollment seen in student housing assets throughout the southeast.”

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