Press Release brought to you by Marcus & Millichap

MARCUS & MILLICHAP ARRANGES THE SALE OF A 138-UNIT MULTIFAMILY PROPERTY

03/27/2018

 

SAN ANGELO, TEXAS, March 27, 2018 – 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 Alamo Village, a 138-unit multifamily property located at 4459 Green Valley Trail in San Angelo, Texas, according to Craig R. Swanson, regional manager of the firm’s Austin, San Antonio and New Mexico office.

William E. Stover, senior associate, and Mike Moffitt, first vice president investments in Marcus & Millichap’s Austin office, had the exclusive listing to market the property on behalf of the seller, a partnership.  The buyer, a private investor, was also secured by Mr. Stover and Mr. Moffitt. Hank Crane, senior director of Marcus & Millichap Capital Corporation, originated the loan.

According to Stover, “The buyer plans on renovating the interiors to help continue the historic high occupancy of the property.”

Built in 1977, Alamo Village consists of six buildings on 6.04 acres.  Unit mix of Alamo Village includes 46 one-bedroom/one-bath units, 16 two-bedroom/one-bath units, 66 two-bedroom/two-bath units and 10 three-bedroom/two-bath units.

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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

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Marcus & Millichap

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