MARCUS & MILLICHAP ARRANGES THE SALE OF A 155-UNIT APARTMENT BUILDING
HOUSTON, Texas, 2016– 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 Alara, a 155-unit apartment property located in Houston, according to David H. Luther, first vice president/ regional manager of the firm’s Houston office. The asset was listed as a request for offer.
Jeffrey Fript, a vice president investments, and Christian Mazzini, an associate, in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a partnership, was secured and represented by Jeffrey Fript, an investment specialist in Marcus & Millichap’s Houston office.
The Alara is located at 17601 Wayforest Drive in Houston.
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About Marcus & Millichap (NYSE: MMI)
With over 1,600 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 8,700 transactions in 2015 with a value of approximately $37.8 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