Marcus & Millichap Announces Exclusive Apartment Portfolio Listing For Over $5M

Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the current apartment listing portfolio of its MacLaren, Townsend and Talone Group, according to Sean Beuche, regional manager of the firm’s King of Prussia office. The four-property portfolio is worth a total of $5,525,000.

Ridge MacLaren, Andrew Townsend, Clarke Talone, Christopher Chadwick and Martin Mooradian, investment specialists in Marcus & Millichap’s King of Prussia office, have the exclusive listing to market the four properties on behalf of their sellers, limited liability companies.

“The south-central Pennsylvania markets have weathered the storm of the last year well. Physical and economic occupancies have remained high, and this portfolio is a great example of that,” said Chadwick.

The properties are as follows:

  • ShoreGate Apartments, 34 units, Hanover, PA for $2,300,000
  • 250 South Franklin, 22 units, Gettysburg, PA for $1,725,000
  • Driftwood Apartments, 13 units, Hanover, PA for $1,050,000
  • 133 Chambersburg Apartments, 6 units, Gettysburg, PA for $450,000

“The ShoreGate Apartments property especially represents an opportunity for an investor to acquire a stable, fully occupied asset with significant upside in rents,” said Talone. “The properties in this portfolio are located in a submarket with strong multifamily fundamentals.  The buildings will continue to experience high demand, maintaining their strong occupancy levels and providing the opportunity for rental growth.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 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 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap 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.