MARCUS & MILLICHAP ARRANGES THE SALE OF A TWO-PROPERTY HUD MULTIFAMILY PORTFOLIO
FLORESVILLE AND POTEET, TEXAS, October 12, 2016 – 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 Alamo Apartments and Crestview Apartments, a two-property HUD multifamily portfolio, according to Craig R. Swanson, regional manager of the firm’s Austin office.
William E. 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 partnership.
Alamo Apartments is 36 unit multifamily property located at 2000 3rd Street in Floresville, Texas. Built in 1974, Alamo Apartments consists of 10 one-bedroom, 18 two-bedroom and eight, three-bedroom floor plans with a current occupancy at 97 percent.
Crestview Apartments is located at 165 School Drive in Poteet, Texas. Crestview Apartments was built in 1990 and consists of 10 one-bedroom, 18 two-bedroom and eight, three-bedroom floor plans with a current occupancy at 95 percent.
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About Marcus & Millichap (NYSE: MMI)
With over 1,600 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 8,700 transactions in 2015 with a value of approximately $37.8 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