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Stock impact report

Institutional Property Advisors Brokers $107M Sale, $71M in Financing for San Gabriel Valley Multifamily Asset

Marcus & Millichap, Inc. (MMI) 
Last marcus & millichap, inc. earnings: 2/20 04:04 pm Check Earnings Report
US:NYSE Investor Relations: marcus.com/us/en
Company Research Source: Business Wire
HACIENDA HEIGHTS, Calif.--(BUSINESS WIRE)--Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE:MMI) dedicated to serving the company’s institutional clients, announced today the sale and financing of Hills at Hacienda Heights, a 350-unit multifamily property in Hacienda Heights, California. The asset sold for $107 million, or $305,714 per unit.“We are excited to close our first transaction with Eagle Partners,” said Kevin Green, IPA executive managing director. “They demonstrated strong execution throughout the transaction, moving efficiently from due diligence through closing.” Green, Joseph Grabiec and Gregory Harris of IPA represented the seller and procured the buyer, Eagle Partners.“The San Gabriel Valley region, with its diverse employment base, rapidly growing distribution and logistics industries, and undersupply of housing, is projected to be one of the nation’s fastest-growing rental markets over the next five years,” said Grabiec.Brian Eisendra Show less Read more
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