Press Releases
Marcus & Millichap Closes Three-Property Multifamily Portfolio Sale in Auburn Alabama
February 02, 2026
AUBURN, Ala., Feb. 2, 2026 – 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 the Auburn 187 Portfolio, a three-property, 187-unit multifamily portfolio in Auburn, Alabama. The portfolio sold for $26.5 million, or $141,700 per unit. The properties are Vue on Dean, 61 units constructed in 1977, Vue on Glenn, a 72-unit property built in 1974, and Vue on Dean, 54 units completed in 1964.
“The portfolio arrived on the market after a $3.3 million capital infusion to complete interior renovations on over 90% of the units, plus new exterior paint, landscaping upgrades, and re-branding,” said Josh Jacobs, senior managing director investments in Marcus & Millichap’s Birmingham office. Jacobs represented the seller and procured the buyer.
The properties are located within minutes of each other a short distance from Auburn University, which is Auburn’s largest employer. Other major employers in Auburn are SiO2 Medical Products, the Alabama Department of Forensic Sciences, and Three Sixty Real Estate. Shopping and entertainment are nearby at Glenndean Shopping Center and Dean Plaza.
“The portfolio arrived on the market after a $3.3 million capital infusion to complete interior renovations on over 90% of the units, plus new exterior paint, landscaping upgrades, and re-branding,” said Josh Jacobs, senior managing director investments in Marcus & Millichap’s Birmingham office. Jacobs represented the seller and procured the buyer.
The properties are located within minutes of each other a short distance from Auburn University, which is Auburn’s largest employer. Other major employers in Auburn are SiO2 Medical Products, the Alabama Department of Forensic Sciences, and Three Sixty Real Estate. Shopping and entertainment are nearby at Glenndean Shopping Center and Dean Plaza.
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About Marcus & Millichap, Inc. (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, 2024, the company had 1,712 investment sales and financing professionals in over 80 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 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
