Marcus & Millichap Arranges the Sale of a 50-Unit Apartment Building in Redding, CA

Marcus & Millichap, Redding, Sunset Terrace, San FranciscoREDDING, CA, June 10, 2016 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of Sunset Terrace, a 50-unit apartment property located in Redding, CA, according to Jeffrey M. Mishkin, regional manager of the firm’s San Francisco office. The asset sold for $4,900,000.

The buyer, a limited liability company, was secured and represented by Dean Sandquist and John Garrett, investment specialists in Marcus & Millichap’s San Francisco office.

Sunset Terrace is located at 2805 Pioneer Drive in Redding, CA. The subject property consists of 43, one-bedroom/one-bath and six, two-bedroom/two-bath and one Penthouse units. The property was constructed in 1985. Completely renovated in 2016 consisting of new kitchens (including appliances), bathrooms, and floor covering throughout, this property is virtually band new.

About Marcus & Millichap (NYSE: MMI)
With over 1,600 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed over 8,700 transactions in 2015 with a value of approximately $37.8 billion. The company has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com

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