Firm brokers sale of apartments for $10.1M

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Published: April 12,2011

Tags: apartments, mergers and acquisitions, real estate

JACKSON — Marcus & Millichap Real Estate Investment Services has brokered the sale of Parham Pointe, a 393-unit 341,430-square-foot bank-owned multi-family property in Jackson. The sales price of $10.1 million represents $25,700 per unit and $30 per square foot.

Scott Harris, a senior vice president, investments, in the firm’s Oak Brook office, and Bradley Barham and Brent Yurtkuran, senior associates in Jackson, represented the buyer, Arlington Properties.

Built in 1978 on 24 acres, Parham Pointe is comprised of 31 two-story apartment buildings with both townhouse and flat floor plans. The unit mix is 48 percent one-bedroom units, 50 percent two-bedroom units and 2 percent three-bedroom apartments. Community amenities include gated access, three swimming pools, two laundry facilities, two tennis courts, a fitness center and a sand volleyball court.

Source: Marcus & Millichap Real Estate Investment Services

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