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Marcus & Millichap Arranges the Sale of “Class A” 112-Unit Student Housing in Georgia for $17.2M

April 21, 2022

VALDOSTA, Ga., April 21, 2022 – 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 Remerton Mill Apartments, a 194-bed, 112-unit, fully furnished student housing property located in Valdosta, Georgia. The 2019-built property sold for $17.2 million. 

“This asset is the first choice for students looking for best-in-class interior finishes, proximity to student nightlife venues and within one mile of Valdosta State University (VSU),” said John E. Brigel, a first vice president investments in Marcus & Millichap’s Tampa office. “The sellers are real student housing pros who built a rock-solid operating foundation. The Northeast buyer, a first-time student housing owner, will benefit immediately from the precision of the current operations.” Brigel had the exclusive listing to the market the property on behalf of the seller, RM Apartments LLC. Recycle Realty, LLC, purchased the property.  

The gated property offers luxury amenities, including modern finishes, private balconies, open floor plans with a resort-style pool, dog park, and full-size washer/dryer sets in the unit. The apartment property features one-, two- and three-bedroom open floor plans with Wi-Fi and TV services included. 

Remerton Mill Apartments is located at 1853 W Gordon Street in Valdosta, Georgia. The property is directly across the street from the Remerton Police Department, one mile from VSU campus, Valdosta Mall, retail stores, restaurants, and downtown Valdosta. Apartment sizes range from 785 to 1,345-square-feet.

 

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.

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