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Marcus & Millichap Arranges Sale of 8-Unit Apartment Building

July 12, 2021

SEATTLE, WA, July 12, 2021 – 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 Holly Terrace, an 8-unit apartment building sold for a townhome development site located in Seattle, WA, according to Joel Andrew Deis, regional manager of the firm’s Seattle office. The asset sold for $1,665,000.

The buyer, an individual/personal trust, was secured and represented by Kellan Moll and Scott Morasch, investment specialists in Marcus & Millichap’s Seattle office.

Holly Terrace is located at 6730 Rainier Ave S in Seattle, WA. The property was built in 1957 and features a unit mix of five 1 bedroom/1 bath units and three 2 bedroom/1 bath units.

The seller in the transaction also used Hank Wolfer of Marcus & Millichap Seattle to secure their up-leg for their 1031 exchange into a NNN retail asset to rid themselves of management responsibilities.

 

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About Marcus & Millichap (NYSE: MMI)

With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.

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