Monday, July 6, 2015

$19.6 Million Sale of Five Net-Leased Childcare Centers in Three States Brokered by Marcus & Millichap

KinderCare, Gambrills, MD

Tammy Saia
PHILADELPHIA, PA,  July 6, 2015 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has arranged the sale of five net-leased childcare properties to five separate buyers.

 The aggregate sales price for the assets is $19,680,271.

           Four of the properties are KinderCare Learning Centers and one is a Knowledge Beginnings Child Development Center. The KinderCare Learning Centers are located in Florida, Illinois and Maryland. The Knowledge Beginnings asset is in Colorado.

            Dean Zang, first vice president investments, and Christopher Phillips, associate, both in Marcus & Millichap’s Washington, D.C. office, and Mark Taylor, first vice president investments in the firm’s Philadelphia office, represented the seller, a California-based real estate investment fund.

Zang, Phillips and Taylor, along with Tammy Saia, vice president investments in Marcus & Millichap’s Chicago Oak Brook office, and Steven Siegel and Michael Kook in the firm’s Manhattan office, procured the buyers.

Dean Zang
            Sharone Sabar, first vice president capital markets with Marcus & Millichap Capital Corp. in Encino, arranged financing for the purchase of the KinderCare in Orlando, Fla.

“In 2014, we represented the buyer in the acquisition of these assets as a portfolio purchase,” says Zang.

 “Upon completion of that transaction, the purchaser immediately engaged our services to resell the properties on a one-off basis. 

"We completed the assignment in less than 10 months and achieved a return that eclipsed our client’s best case pro forma scenario.”

            The properties are:

·         Knowledge Beginnings, 11,400 square feet, Denver, Colo.
·         KinderCare, 10,340 square feet, Orlando, Fla.
·         KinderCare, 10,340 square feet, Wesley Chapel, Fla.
·         KinderCare, 9,600 square feet, Huntley, Ill.
·         KinderCare, 9,728 square feet, Gambrills, Md.

Stephen Siegel

“This is yet another example of how the Marcus & Millichap national platform is superbly positioned to maximize exposure and pricing to clients with geographically dispersed properties,” adds Phillips.

            Marcus & Millichap’s broker of record in Colorado is vice president Richard Bird, the firm’s broker of record in Florida is first vice president Kirk Felici, and in Illinois the company’s broker of record is first vice president John Przybyla. First vice president Bryn Merrey is Marcus & Millichap’s broker of record in Maryland.

 For a complete copy of the company’s news release, please contact:

Gina Relva
Public Relations Manager

(925) 953-1716

No comments: