Marcus & Millichap sells three Philadelphia MSA multifamily assets for $26 million
- Townsend, MacLaren
- Oct 9, 2019
- 1 min read
DELAWARE VALLEY— Marcus & Millichap has announced the sale of three multifamily properties in the Delaware Valley for $25.9 million. “We are seeing a high level of buyer demand for workforce housing class B and C assets, as well as urban trophy multifamily and mixed-use properties,” said Andrew Townsend, first VP investments in Marcus & Millichap’s Philadelphia office. “Both product types are performing very well in the Philadelphia MSA due to the diverse and tight job market. Market conditions make this a terrific time for sellers and the depressed level of inventory, continued low interest rates, strong fundamentals, and increased buyer pool ensure the market for apartment assets will remain extremely competitive.”
