Marcus & Millichap’s Institutional Property Advisors Brokers $203 Million Sale and Arranges $127.8 Million Financing for Silicon Valley Multifamily Asset
Marcus & Millichap, Inc. (MMI)
Last marcus & millichap, inc. earnings: 2/20 04:04 pm
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Source: Business Wire
SANTA CLARA, Calif.--(BUSINESS WIRE)--Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE:MMI), announced today the sale and financing of Summerwood Apartments, a 468-unit multifamily property located at 444 Saratoga Avenue in Santa Clara, California. The property sold for $203,150,000. IPA executive managing directors Philip Saglimbeni, Stanford Jones, Salvatore Saglimbeni, and senior director Alexander Tartaglia represented the seller, DWS, and procured the buyer, Interstate Equities Corporation.The Los Angeles-based IPA Capital Markets team of Brian Eisendrath, Cameron Chalfant, Jake Vitta, and Jesse Zarouk secured $127,819,000 in agency financing on behalf of Interstate Equities Corporation (IEC), a local real estate investment and management firm that primarily operates throughout California and Seattle, Washington.“IEC is excited to announce the acquisition of Summerwood Apartments, our first major investment in Silicon Valley since 2019,” said Bren
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- Marcus & Millichap's Institutional Property Advisors Brokers $203 Million Sale and Arranges $127.8 Million Financing for Silicon Valley Multifamily Asset [Yahoo! Finance]Yahoo! Finance
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- Marcus & Millichap's Institutional Property Advisors Brokers Three Multifamily Property Sales in Tacoma for $102.6 Million [Yahoo! Finance]Yahoo! Finance
- Marcus & Millichap’s Institutional Property Advisors Brokers Three Multifamily Property Sales in Tacoma for $102.6 MillionBusiness Wire
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MMI
Sec Filings
- 12/13/24 - Form 4
- 11/27/24 - Form 4
- 11/8/24 - Form 10-Q
- MMI's page on the SEC website