Marcus & Millichap Arranges the Sale of a 168-Unit Apartment Building in Houston
HOUSTON, TEXAS, December 8, 2014– 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 Dover Pointe Apartments, a 168-unit apartment property located in Houston, according to David H. Luther, vice president and regional manager of Marcus & Millichap’s Houston office.
Jeffrey Fript, avice president investments in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a partnership. The buyer, a partnership, was also secured and represented by Fript. The buyer plans to increase revenue by completing the internal upgrade program started by the previous owner to take advantage of the demand created by the explosive increase of jobs by the Port of Houston.
Dover Pointe Apartments is located at 14445 Wallisville Road in Houston.
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About Marcus & Millichap (NYSE: MMI)
With over 1,300 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 6,600 transactions in 2013 with a value of approximately $24 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