$146.5 Million Inland Empire Multifamily Sale Closed By Marcus & Millichap's Institutional Property Advisors Division [Yahoo! Finance]
Marcus & Millichap, Inc. (MMI)
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Source: Yahoo! Finance
sale of Silverado Apartment Homes, a 492-unit multifamily property in Murrieta, California. The property sold for $146.5 million, which equates to $297,764 per unit. "Silverado presented a unique opportunity to acquire a newer vintage Inland Empire asset with substantial upside in a burgeoning submarket with strong fundamentals," said Kevin Green, IPA executive managing director investments. "Our controlled process was met with a positive response and yielded a highly competitive sales environment. The opportunity was bolstered by assumable financing, approximately 300 basis points below today's rates. The acquisition gives the buyer a sizeable footprint in a strong market." Green and IPA's Joseph Grabiec and Gregory Harris represented the seller, Realty Center Management, Inc., and procured the buyer, Bell Partners. "Highlighting the above-average demographics in this submarket drew additional activity in an area lesser known by the broader investment market," said Grabiec. "Aver
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News
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- Marcus & Millichap’s IPA Capital Markets Division Arranges $72 Million Refinancing for Mixed-Use Development in Omaha MSABusiness Wire
- Marcus & Millichap's Institutional Property Advisors Brokers $62 Million North Hollywood Multifamily Asset Sale [Yahoo! Finance]Yahoo! Finance
MMI
Sec Filings
- 6/17/24 - Form 4
- 6/5/24 - Form 4
- 5/29/24 - Form 4
- MMI's page on the SEC website