Press Release brought to you by Marcus & Millichap

MARCUS & MILLICHAP ARRANGES THE SALE OF A 176-UNIT APARTMENT BUILDING

11/13/2015

LONGVIEW, TX, November 13, 2015 – 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 Misty Ridge, a 176-unit apartment property located in Longview, TX, according to Craig R. Swanson, regional manager of the firm’s Austin office.

Joe James Vice President Investments, Kent Myers Vice President Investments, and Matthew Yarbrough, investment specialist 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 regional investment company, was secured by Joe James, Kent Myers and Matthew Yarbrough.

“Demand for quality apartment assets in Texas’ secondary markets has never been stronger as investment activity in the major markets continues to be extremely competitive,” says Myers.

Completed in 1979, Misty Ridge is a quality apartment community consisting of 176 units, located at 301 West Hawkins Parkway in the strong secondary market of Longview, Texas. The property boasts a wide array of appealing community amenities including a sparkling swimming pool with a water fountain, a tennis court, and much more.

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About Marcus & Millichap (NYSE: MMI)

With nearly 1,500 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 7,600 transactions in 2014 with a value of approximately $33.1 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

 

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11/13/2015 - 16:15

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Marcus & Millichap

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