Marcus & Millichap Arranges the Sale of a 60-unit Apartment Building
HOUSTON, TEXAS, Sept. 19, 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 Glenwood Apartment Homes, a 60 unit apartment property located in Houston according to David H. Luther, vice president/regional manager of Marcus & Millichap’s Houston office. The asset had a list price of $2,850,000.
Jeffrey Fript, a vice president investments in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured by Fript. The new owner plans to continue grow rents commensurate with the submarket.
Glenwood Apartment Homes is located at 9255 West Sam Houston Parkway South 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