Marcus & Millichap Arranges the Sale of a 162-Unit Multifamily Portfolio in Redding, CA
REDDING, CA, October 6, 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 162-unit multifamily portfolio located throughout Redding, CA. According to Joel Deis, regional manager of the firm’s Portland and Seattle offices, the assets sold for a combined total of $16,690,000.
The buyer was secured and represented by Rand Hoffman, an investment specialist in Marcus & Millichap’s Portland office. Regional Manager, Daniel Kapic of the Sacramento office, assisted in closing this transaction.
The buyer, OSM Investment Company, is an experienced commercial real estate investor and developer in California. They already had a strong presence in the Redding market and intend to continue to expand and improve their assets in this region which they believe has strong fundamentals and growth potential. They intend to improve the properties in this portfolio and streamline management of this portfolio. The sellers were a multi-generational family of investors who are divesting from Redding to move their equity and themselves to Idaho.
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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.