Marcus & Millichap’s Institutional Property Advisors Closes Multifamily Asset Sale in Clarksville, Tennessee
25 7월 2024 - 3:37AM
Business Wire
Institutional Property Advisors (IPA), a division of Marcus
& Millichap (NYSE:MMI), announced the sale of Solis, a 216-unit
multifamily property in Clarksville, Tennessee.
“Built in 2020, Solis is a stabilized asset in one of the
fastest-growing cities in the nation,” said David Stollenwerk, IPA
director. “Over the past five years, Clarksville has experienced
15.5% population growth and currently the Clarksville-Montgomery
MSA population is over 329,000.” Stollenwerk and IPA’s Will
Balthrope and Drew Garza represented the seller, Gwaltney
Communities, and secured the buyer, a private California-based
partnership. Marcus & Millichap’s broker of record in Tennessee
is Jody McKibben.
The property is 40 miles from Nashville, a short drive from Fort
Campbell and Austin Peay State University. Shopping is close by at
Shoppes at Peachers Mill and Great Escape Plaza. Major employers in
Clarksville include LG Electronics, Trane, Agero Clarksville,
Tennova Healthcare, Hankook Tire and LG Chem.
Solis is a three-story, garden-style asset with a saltwater
swimming pool, 24-hour fitness center, and theater room. Apartments
have washers and dryers and nine-foot ceilings. The average unit
size is 1,089 square feet.
Balthrope stated: “IPA provides commercial real estate investors
with high-quality multifamily property opportunities in markets
throughout the United States and Canada.”
About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus
& Millichap (NYSE: MMI), a leading commercial real estate
services firm in North America. IPA’s combination of real estate
investment and capital markets expertise, industry-leading
technology, and acclaimed research offer customized solutions for
the acquisition, disposition and financing of institutional
properties and portfolios. For more information, please visit
www.institutionalpropertyadvisors.com
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading national brokerage
firm specializing in commercial real estate investment sales,
financing, research and advisory services. 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 our 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240724863600/en/
Gina Relva, VP of Public Relations
Gina.Relva@MarcusMillichap.com
Marcus and Millichap (NYSE:MMI)
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