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Marcus & Millichap Arranges the Sale of a 150 Unit Apartment Building

12/29/2015


HOUSTON, 2015– Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of Broadway Casa, a 150 unit apartment property located in Houston, according to David H. Luther, first vice president/regional manager of Marcus & Millichap’s Houston office. The asset had a list price of $4,770,000.

Clint Roberts, an associate in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller.  The marketing campaign generated strong activity.  The buyer, a local investor, won the offering with $100,000 hard money on day one of the contract. Once under contract, it only took 28 days to close. Roberts secured and represented the buyer. 

Broadway Casa is located at 8405 Broadway Street in Houston, Texas.
 

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About Marcus & Millichap (NYSE: MMI)

With nearly 1,500 investment 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 7,600 transactions in 2014 with a value of approximately $33.1 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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12/29/2015 - 18:15

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Marcus & Millichap

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