MacLaren • Talone • Townsend Sell 48-Unit Apartment Building in Delaware
MIDDLETOWN, DE, November 19, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has announced the sale of Hampstead Court, a 48-unit apartment property located in Middletown, DE, according to Spencer Yablon, regional manager of the firm’s Philadelphia office. The asset sold for $2,950,000.
Ridge MacLaren, Andrew Townsend and Clarke Talone, investment specialists in Marcus & Millichap’s Philadelphia office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Ridge MacLaren, Andrew Townsend and Clarke Talone. Spencer Yablon, Broker, assisted in closing this transaction.
Hampstead Court is located at 101 E Hampstead Rd in Middletown, DE. The property is a 48-unit garden style apartment complex, built in 1975. Hampstead Court is in a great, high-visibility location, across the street from an ACME shopping center and down the street from a new urgent care center. The property went from under contract to closing in 30 days, and sold for 95+% of list price.
With more than 1,000 investment professionals in offices nationwide, Marcus & Millichap Real Estate Investment Services is the largest firm specializing in commercial real estate investment services in the nation. Marcus & Millichap closed 6,149 transactions in 2012, the highest of any commercial real estate brokerage firm. Founded in 1971, the firm has perfected a powerful system for marketing properties that combines product specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology and relationships with the largest pool of qualified investors nationally.