Marcus & Millichap Facilitates $18.9 Million Sale of 33-Building Portfolio in Southbridge and Worcester Massachusetts

BOSTON, Mass., August 9, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a 196-unit mixed-use portfolio in Southbridge and Worcester, Massachusetts. The portfolio sold for $18.9 million.

"The seller had been in the business for over 30 years, and we went to market with both portfolios, ultimately securing an investor group interested in acquiring the seller's entire portfolio," said Matthew Pierce, first vice president investments in Marcus & Millichap's Boston office. Pierce had the exclusive listing to market the property on behalf of the seller, a local private investor, and procured the buyer, a private LLC.

The Southbridge portfolio consists of 157 apartment units across 26 properties, and the Worcester portfolio includes 37 apartments and two retail units across seven properties.

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About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.