Marcus & Millichap Arranges Sale and Financing of 42-Unit Multifamily Property in Saint Johns, Michigan

SAINT JOHNS, Mich., Oct. 26, 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 Sturgis Crossings, a 42-unit multifamily property in Saint Johns, Michigan. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, arranged acquisition financing on behalf of the buyer. 

“This transaction required a true team effort as we helped our client successfully complete a 1031 exchange while representing the seller,” said Chase Gilewski, director investments. “With ongoing hands-on management, opportunities to complete additional unit renovations and strong rental demand driven by the property's proximity to the Lansing metro area, the asset is well positioned for long-term growth.” 

Gilewski and Chris Futo, investment specialists in Marcus & Millichap’s Detroit office, had the exclusive listing to market the property on behalf of the out-of-state seller and procured the local buyer. Luke Lamoreaux, associate director also based in the firm’s Detroit office, secured the financing with a national credit union on behalf of the buyer. The loan features a 10-year term with a 6.3% interest rate and 6 months of interest-only payments, and 25-year amortization period.  

“The interest-only period will allow for a smooth and comfortable transition for the buyer and his management team,” said Lamoreaux. “We also locked the interest rate at application approximately 60 days before closing, which enabled us to execute successfully in a rising interest rate environment.” 

Located at 900 E. Sturgis St., Sturgis Crossings is situated on 2.80 acres just north of Lansing with convenient access to U.S. Highway 127. Built in 1984, the property encompasses 29,770 rentable square feet and features a mix of one- and two-bedroom units.  

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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, 2025, the company had 1,808 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 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.