Marcus & Millichap Sells A 63-Unit Apartment Building

TURLOCK, CA, July 11, 2012 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Turtle Creek Apartments Portfolio, a 63-unit apartment property located in Turlock, CA, according to Jeffrey M. Mishkin, FVP/Regional Manager of the firm’s San Francisco office. The asset commanded a sales price of $2,725,000.

George Inskeep, an investment specialist in Marcus & Millichap’s San Francisco office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust. The buyer, a limited liability company, was secured and represented by Vincent Schwab, an investment specialist in Marcus & Millichap’s San Francisco office.

Turtle Creek Apartments is a portfolio of three separate properties in close proximity and managed as a single complex. Units consist of one and two bedroom units, and three bedroom townhouse units.

With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 5,085 transactions in 2011, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.

West Coast Commercial Real Estate News