Marcus & Millichap : Brokers $19 Million Sale of Greenville Townhomes
06/29/2022 | 01:12pm EDT
Marcus & Millichap Brokers $19 Million Sale of Greenville Townhomes
June 29, 2022
GREENVILLE, S.C., June 29, 2022 - 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 Marabella Townhouses, a 84-unit multifamily community located in Greenville, South Carolina. The asset sold for $19 million or $226,190 per unit.
"This property continued to perform well through its lease-up period, with rents increasing by 20 percent," says William Graves, senior associate in the firm's Charleston office. "This enabled us to bring in an out-of-state buyer with more aggressive pricing guidance."
Graves, in addition to Nate McDaniel and Ryan Lipomi, had the exclusive listing to market the property on behalf of the seller. The team also secured the out-of-state buyer.
Marabella Townhouses is located at 199 Marabella Circle in Greenville, South Carolina. Completed in 2022, its 84 units contain a combined 120,540 rentable square feet and sit on 6.80 acres of land.
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About Marcus & Millichap (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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
Marcus & Millichap Inc. published this content on 29 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 June 2022 17:11:35 UTC.