MARCUS & MILLICHAP ARRANGES THE SALE OF A 92-UNIT MULTIFAMILY PROPERTY
BROWNSVILLE, TEXAS, August 16, 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 Las Resacas, a 92-unit multifamily property located at 275 Morningside Road in Brownsville, Texas, according to Craig R. Swanson, regional manager of the firm’s Austin office.
Mike Moffitt Jr, first vice president investments in Marcus & Millichap’s Austin office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, an individual/personal trust, was also secured by Mr. Moffitt.
Built in 1981 on approximately nine acres, Las Resacas consists of 92 two-bedroom/one-bath floor plans at 800 square feet.
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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