Marcus & Millichap sells three Philadelphia MSA multifamily assets for $26 million

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.”
 

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