Marcus & Millichap Arranges the Sale of a 46-Unit Apartment Complex 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 Silver Club Apartments, a 46-unit apartment property located in Houston, according to David H. Luther, vice president and regional manager of Marcus & Millichap’s Houston office. The asset traded close to the list price of $2,300,000 and established a new record price per unit for a property of its vintage in Southeast Houston.
Clint Roberts, an associate in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller. The buyer, a local investor, was also procured by Roberts. Silver Club is located at 5160 Silver Creek Drive in Houston.
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