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Stock impact report

Institutional Property Advisors Brokers Sale and Arranges Financing for Boutique West Los Angeles 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
LOS ANGELES--(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 Luxe Villas, a 60-unit multifamily asset in the Brentwood neighborhood of Los Angeles, California. The property sold for $49,494,000, or $824,900 per unit.“Luxe Villas is one of the premier multifamily assets in Brentwood,” said Kevin Green, IPA executive managing director. “This transaction represents one of only three post-2000 built assets of 50-plus units to trade in Brentwood in the last 25 years.” Green, Joseph Grabiec, and Gregory Harris of IPA represented the seller, and procured the buyer, TruAmerica Multifamily. “Brentwood, with average annual household incomes over $213,000, is one of the most affluent multifamily submarkets in California,” said Grabiec. The acquisition financing was arranged by Brian Eisendrath, Cameron Chalfant, and Jake Vitta of IPA Capital Show less Read more
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