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| KinderCare, Gambrills, MD |
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| 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.
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| 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.
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| 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
