Marcus & Millichap's Institutional Property Advisors Closed A $80M Multifamily Asset Sale In Gilbert, Arizona
Portfolio Pulse from Benzinga Newsdesk
Marcus & Millichap (NYSE:MMI), a commercial real estate brokerage firm, announced the sale of Alta Cooley Station, a 248-unit multifamily property in Gilbert, Arizona, for $80 million. This equates to $322,581 per unit.
December 27, 2023 | 6:05 am
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Marcus & Millichap brokered the sale of a multifamily asset for $80 million, showcasing their capability in handling significant real estate transactions.
The successful closure of a high-value real estate transaction is likely to be viewed positively by investors and could lead to a short-term increase in MMI's stock price. It demonstrates the company's effectiveness in executing large deals and may enhance investor confidence in their brokerage services.
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