Marcus & Millichap : Brokers the Sale of Brix Apartments, a 35-unit Apartment Building
May 17, 2022
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GREELEY, Colo., May 18, 2022 - 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 Brix Apartments, a 35-unit apartment property located in Greeley, Colorado. According to Adam A. Lewis, regional manager of the firm's Denver office, the asset sold for $7,100,000. Boomer Beatty and Matthew Beverly, investment specialists in Marcus & Millichap's Denver office, had the exclusive listing to market the property on behalf of the seller, a limited liability company.
"The sale of this asset was the result of the seller executing their value-add strategy. At the time of the disposition, the seller had completed substantial renovations to the exterior of the building along with all of the common spaces and major systems. Additionally, 20 of the 35 units had undergone significant renovations," commented Beverly.
The sale of Brix Apartments demonstrates the continued strength of the Greeley market. The investor plans to continue with the remaining renovations upon acquisition. This continues the trend of bringing more quality housing to Greeley.
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About Marcus & Millichap (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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.
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Marcus & Millichap Inc. published this content on 18 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 May 2022 17:48:04 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
MARCUS & MILLICHAP, INC. 
