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Marcus & Millichap Arranges the Sale of a 74-Unit Apartment Building for $12.1 Million
August 22, 2023
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HAVRE DE GRACE, MD, August 22, 2023 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Bradford Green, a portfolio subdivision of 74 individual townhomes located in Havre de Grace, Maryland. The property sold for $12,152,635.

Craig Dunkle and Mher Vartanian, investment specialists in Marcus & Millichap's Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was also secured and represented by Craig Dunkle and Mher Vartanian. Brian Hosey assisted in the transaction as the Maryland broker of record.

"Unlocking the doors to prosperity, we proudly orchestrated a symphony of success in brokering a remarkable $12.5 million multifamily transaction." Said Vartanian. "This isn't just a deal, but a testament to our commitment in shaping the landscape of opportunity for our clients and partners."

Dunkle added, "We were very excited to be able to break the price per unit submarket record for Havre De Grace, Maryland. All in all it was a very successful transaction for both the Seller and the Buyer, and we thank them both for the opportunity in representing them in the transaction."

Bradford Green is located on Battery Drive in Havre de Grace, Maryland and received multiple offers - roughly 20 letters of intent to purchase. The selling price equated to 99.6% of the asking price, with a corresponding price per unit of $164,225 per unit.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2022, the company had 1,904 investment sales and financing professionals in 81 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 12,272 transactions in 2022, with a sales volume of approximately $86.3 billion. For additional information, please visit www.MarcusMillichap.com.

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Marcus & Millichap Inc. published this content on 22 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 August 2023 19:49:01 UTC.