MARCUS & MILLICHAP ARRANGES THE SALE OF A 12-UNIT APARTMENT PROPERTY
AUSTIN, TEXAS, August 4, 2017 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of The Trees, a 12-unit apartment property located at 807 Blanco Street in Austin, Texas, according to Craig R. Swanson, regional manager of the firm’s Austin office.
Josh Kantor and Mike Moffitt Jr, investment specialists in Marcus & Millichap’s Austin office, had the exclusive listing to market the property on behalf of the seller, a partnership. The buyer, a local investor group, was also secured by Mr. Kantor.
Built in 1969, The Trees is constructed with wood framing on a concrete slab foundation with brick and wood siding. The property features 12 large one-bedroom floor plans and offers off street parking for all residents.
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About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 9,000 transactions in 2016 with a value of approximately $42.3 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com