Marcus & Millichap Arranges San Francisco Multifamily Portfolio Sale
SAN FRANCISCO, July 14, 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 a three-property multifamily portfolio. Located in the Haight Ashbury and Ashbury Heights neighborhoods of San Francisco, the portfolio consists of 29 apartment units that sold for a total price of $14.6 million.
Nick Bonn, Senior Associate and Clinton Textor, Senior Vice President in Marcus & Millichap’s San Francisco office, represented the buyer. “The portfolio totaled 27,922 square feet and was 62% occupied at close of escrow,” noted Bonn.
The properties are: 1900 Page Street, a nine-unit asset that sold for $4.95 million; 1077 Ashbury Street, an 11-unit property that sold for $4.8 million; and 1040 Ashbury Street, a nine- unit asset that brought $4.85 million.
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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.