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Marcus & Millichap Agent Posthumously Sells Two Pennsylvania Assets for over $9 Million

May 13, 2022

CHESTER, Pa., and WILLOW GROVE, Pa., May 13, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today Fred Paisley’s posthumous sales of the M&E Apartment Portfolio and Fresenius Medical Care. The assets sold for $5.3 million and $4.05 million, respectively, according to Sean Beuche, the firm’s regional manager and broker of record in Pennsylvania.

Paisley was a first vice president of investments in Marcus & Millichap’s Philadelphia office. He, along with Everett V. Butler - an investment sales associate in his home office - closed the M&E Apartment Portfolio with its buyer, Bayrock Capital LLC, a New York-based investor. Located in Chester, Pa., the three-property multifamily portfolio consists of 65 units that offer one-, two- and three-bedroom options. It is situated on a 2.46-acre lot and boasts 95 percent occupancy. “We were happy to bring the M&E Apartment Portfolio transaction to close for our client and live up to Fred’s mantra of always going above and beyond for the satisfaction of our clients,” said Butler.

Additionally, Paisley secured the buyer for Fresenius Medical Care after the net-leased property was exclusively listed by Derrick Dougherty, Scott Woodard and Colin Reder, investment specialists in The Dougherty Team of Marcus & Millichap’s Philadelphia office. Located at the signalized intersection of Easton and Fitzwatertown Road in Willow Grove, Pa., the property sees almost 42,000 vehicles per day. “Fresenius Medical Care sits at a prime location in the heart of Montgomery County, Pa. Its sellers did an amazing job with renewing its lease at a fair market value rent,” noted Woodard.

“This world lost an amazing father, husband, brother, friend and broker with Fred’s passing. Everybody in the brokerage community not only respected his professional career, but also his devotion as a father and husband. He was the definition of consistency at Marcus & Millichap for the last two decades,” added Dougherty. “It was an honor and a privilege to close the Fresenius Medical Care deal with him. Both Fred and our buyer deserve enormous credit for separating themselves from the competition and flawlessly executing our game plan.

Paisley, 63, passed away on Tuesday, Feb. 15, 2022. Throughout his 23 years as a multifamily real estate specialist, he represented several private and institutional investors in the Philadelphia metropolitan statistical area. He is survived by his wife, Diane; child, Andrew W.; and siblings, Peter Paisley and Melissa Bultich.

“The M&E Apartment Portfolio and Fresenius Medical Care transactions are a testament to the depth of Fred’s relationships in the Philadelphia marketplace. His extraordinary talent for connecting with his clients was exemplified in the hundreds of relationships he cultivated during his 23-year career with Marcus & Millichap,” said Beuche. “Fred’s clients consistently found qualified buyers, lenders and skilled attorneys with his aid. His capable hands flawlessly handled the common challenges and surprises we face in our industry. He will truly be missed.”

 

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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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