Marcus & Millichap Inc.
06/24/2024 | Press release | Archived content
Marcus & Millichap Facilitates Sale of Two Multifamily Properties in Statesboro Georgia
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Marcus & Millichap Facilitates Sale of Two Multifamily Properties in Statesboro Georgia
June 24, 2024
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STATESBORO, Ga., June 24, 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 Deerwood and Maverick Trails Apartments, a two-property 96-unit multifamily portfolio in Statesboro, Georgia.
"These properties were recently renovated and offer significant upside potential with below-market rents," said Joe Mitchell, first vice president investments. "Statesboro is experiencing tremendous growth due to several factors, including the expansion of Georgia Southern University and the port expansion in Savannah."
Mitchell, Scott Spalding, and Marco Welch, investment specialists in Marcus & Millichap's Atlanta office, were the transaction brokers for this off-market deal between the seller, a family office out of Macon, Ga., and the buyer, Lake City Equity out of Charleston, S.C.
Located at 560 E Main St. and 61 Packinghouse Rd., the properties include 96 units offering a mix of one-, two-, and three-bedroom apartments. Featuring amenities such as on-site laundry facilities, ample parking, and landscaped grounds, they are in close proximity to Georgia Southern University, Statesboro Mall, and the Georgia Southern Botanical Garden.
"These properties were recently renovated and offer significant upside potential with below-market rents," said Joe Mitchell, first vice president investments. "Statesboro is experiencing tremendous growth due to several factors, including the expansion of Georgia Southern University and the port expansion in Savannah."
Mitchell, Scott Spalding, and Marco Welch, investment specialists in Marcus & Millichap's Atlanta office, were the transaction brokers for this off-market deal between the seller, a family office out of Macon, Ga., and the buyer, Lake City Equity out of Charleston, S.C.
Located at 560 E Main St. and 61 Packinghouse Rd., the properties include 96 units offering a mix of one-, two-, and three-bedroom apartments. Featuring amenities such as on-site laundry facilities, ample parking, and landscaped grounds, they are in close proximity to Georgia Southern University, Statesboro Mall, and the Georgia Southern Botanical Garden.
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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.