MARCUS & MILLICHAP ARRANGES THE SALE OF A 38-UNIT APARTMENT PROPERTY
DEL RIO, TEXAS, October 5, 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 Mimosa, a 38-unit apartment property located at 605 East 8th Street in Del Rio, Texas, according to Craig R. Swanson, regional manager of the firm’s Austin office.
William Stover Jr. 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 limited liability company. The buyer, a private investor, was also secured by Mr. Stover and Mr. Moffitt.
Constructed in 1960, Mimosa consists of 18 one-bedroom, 18 two-bedroom and two two-bedroom/two-bath floor plans. Common area amenities across Mimosa include mature trees, sparkling swimming pool, two laundry facilities and covered parking.
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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