MILWAUKEE, June 28, 2012– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has brokered the sale of Harbor Pointe (top left photo), a 596-unit multifamily property in Milwaukee. The sales price of $27,050,000 represents $45,386 per unit and $51 per square foot.
Scott Harris, a senior vice president investments in Marcus & Millichap’s Oak Brook, Ill. office and Matthew Whiteside, (lower right photo), a vice president investments in the firm’s Milwaukee office, represented the seller, a private investment group. Harris and Whiteside also represented the Denver-based buyer.
“This was a satisfying exchange for both parties in the transaction,” says Harris. “Harbor Pointe is one of the largest multifamily properties in Wisconsin and Milwaukee is one of the strongest rental markets in the country.”
“The property was 95 percent occupied and climbing at the time of the sale,” adds Whiteside. “The new owners have the ability to achieve high cash flows from Harbor Pointe’s current operations.”
The 531,186-square foot property is located at 9200 North 75th St. on Milwaukee’s north side, within walking distance of major retailers, restaurants and hotels.
For a complete copy of the company’s news release, please contact:
Stacey Corso
Public Relations Manager
(925) 953-1716
No comments:
Post a Comment