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| Daniel Burkons |
COLUMBUS, OH – Marcus & Millichap (NYSE: MMI), a leading
commercial real estate investment services firm with offices throughout the
United States and Canada, announced the sale of Whispering Pines, a
376-unit apartment asset located in Columbus, Ohio. The terms of the sale were
not disclosed.
Michael Barron, first vice president investments, Daniel
Burkons, vice president investments and Joshua Wintermute, vice
president investments, all in in Marcus & Millichap’s Cleveland office,
along with Richard Lattro and Jordan Marshall, associates in the
firm’s Columbus office, had the exclusive listing to market the property on
behalf of the seller, a Philadelphia-based limited liability company.
Barron, Burkons and Wintermute secured the buyer, an
out-of-state private investment group that successfully competed against
numerous regional and national buyers for the asset.
“Investors seeking yield continue to view Columbus as an
attractive Midwest market,” says Barron.
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| Michael Baron |
“We fielded several offers from buyers across the United
States at—or even slightly above—this price level,” adds Burkons.
“This size and class of property lends itself to a
professional but non-institutional class of owners seeking to grow their
presence in an attractive mid-sized market like Columbus,” explains Wintermute.
Whispering Pines is located in north Columbus just off E.
Dublin-Granville Road between Interstate 71 and Interstate 270.
The property is less
than 10 minutes from two of Columbus’ major retail and employment corridors,
Polaris and Easton Town Center.
The community, which is composed primarily of townhomes,
offers one-, two- and three-bedroom floor plans. Amenities at the property include a clubhouse, community room,
fitness center, laundry facility, swimming pool, tennis courts and picnic
area.
For a complete copy of the company’s news release, please
contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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