Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Marabella Townhouses, a 84-unit multifamily community located in Greenville, South Carolina. The asset sold for $19 million or $226,190 per unit.
“This property continued to perform well through its lease-up period, with rents increasing by 20 percent,” says William Graves, senior associate in the firm’s Charleston office. “This enabled us to bring in an out-of-state buyer with more aggressive pricing guidance.”
Graves, in addition to Nate McDaniel and Ryan Lipomi, had the exclusive listing to market the property on behalf of the seller. The team also secured the out-of-state buyer.
Marabella Townhouses is located at 199 Marabella Circle in Greenville, South Carolina. Completed in 2022, its 84 units contain a combined 120,540 rentable square feet and sit on 6.80 acres of land.