DETROIT, MI– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of a diversified, 10-property single-tenant net-leased portfolio in Michigan, Ohio and New York.
“This unique transaction was an opportunity to fully diversify an investment portfolio and place a minimal equity down payment in order to assume an existing fixed 10-year loan,” says Jonna. “The sale involved 10 cities and 10 existing notes on one loan with three servicers, including a master and special servicer.”
The portfolio included national tenants CVS, Rite Aid and Family Dollar. The properties are strategically located on dominant hard corners in their respective markets with three in Michigan, six in Ohio and one in New York’s Nassau County, the most populated county on Long Island. The entire portfolio is 100-percent occupied with corporate-backed lease guarantors.
175-UNIT APARTMENT COMMUNITY IN ST. CLOUD, MN SELLS FOR $11.6M
ST. CLOUD, MN– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Park Place Estates, (bottom right photo) a 175-unit multi-family community in St. Cloud.