BRUNSWICK, GA-– Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged the sale of Glynn Place, (bottom left photo) a 128-unit multi-family community in Brunswick.The sales price of $5.4 million represented $42,188 per unit at an 8.61 percent cap rate.
David Hsieh, (top right photo) an associate vice president investments and associate director of Marcus & Millichap’s National Multi Housing Group in Jacksonville, represented the buyer and the seller in the transaction.
Glynn Place was an excellent oppo
rtunity for the buyer to acquire an existing, well-maintained Section 42 Low Income Housing Tax Credit property,” says Hsieh.
rtunity for the buyer to acquire an existing, well-maintained Section 42 Low Income Housing Tax Credit property,” says Hsieh. Located at 820 Scranton Road, the 152,068-square foot apartment community is situated on 13.38 acres.
Glynn Place consists of spacious three-bedroom garden- and townhome-style apartment homes, with an average unit size of 1,188 square feet.
Unit amenities include washer and dryer connections, well-equipped, modern kitchens, ample cabinets, extra storage space and a private balcony or patio. Community amenities include an on-site leasing office, clubhouse, children’s playground, on-site laundry facility, swimming pool, picnic shelter, volleyball court and fitness center.
Press Contact: David Bradley, Marcus & Millichap, (904) 296-6765
Press Contact: David Bradley, Marcus & Millichap, (904) 296-6765
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