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Marcus & Millichap Closes Two-Property Portfolio in Macon, Georgia for $26.2 Million

April 25, 2022

GEORGIA, April 25, 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 Hidden Lakes, a two-story, 144-unit apartment community and Shadowood West, a two-story, 152-unit apartment community. The 296-unit multifamily portfolio located in Macon, Georgia, sold for $26.2 million.

“We continue to see increased demand in secondary markets throughout Georgia as owners seek higher yields outside of Atlanta MSA,” said Mason Taylor, senior associate in Marcus & Millichap’s Atlanta office. Taylor and John McCalla, senior vice president investments, had the exclusive listing to market the portfolio on behalf of the seller, Exact Capital Group, LLC, a development firm headquartered in New York, NY. Glenn Cove Group, LLC purchased the property.

Hidden Lakes is located at 180 Hidden Lakes Ct, situated on 12.27 acres. Shadowood West is located at 4394 West Highland Drive, on 19.02 acres. Both properties were at 96% occupancy.

Common area amenities include swimming pools, fitness centers, on-site management teams, 24-hour emergency maintenance, clubhouse, laundry center, playground, sand volleyball pit, and a fishing pond.

 

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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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