Just Closed: 12-Unit Townhome Property Trades Hands in York
YORK, Pa., August 31, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of the Country View Townhomes, 12 townhomes located at 2-14 Tate Way in York, Pa. The multifamily asset sold for $1,846,300.
Will Riter, associate, Andrew Townsend and Clarke Talone, both first vice president investments, and Ridge MacLaren, senior vice president investments in Marcus & Millichap’s Philadelphia and Wynnewood offices, facilitated the transaction and represented the buyer, a limited liability company.
“Since its construction in 2007, the Country View Townhomes have experienced low turnover and strong occupancy,” said Riter. “Due to the lack of inventory in the market, there is high demand for assets of this kind, resulting in an aggressive price per unit, but still allowing a strong return for the buyer.”
The Country View Townhomes are in York County, adjacent to the York Township Park and York Area Regional Police Station. The 12 townhomes are comprised of three-bedroom/two-and-a-half bathroom units.
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About Marcus & Millichap (NYSE: MMI)
With over 1,800 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 over 9,000 transactions in 2017 with a value of approximately $42.2 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