Marcus & Millichap Arranges $25.1 Million, Five-Property Sale

by Katie Sloan

Valdosta, Ga. — The properties surround the Valdosta State University Campus.

Valdosta, Ga. — Marcus & Millichap Real Estate Investment Services has brokered the sale of a five-property student housing portfolio in Valdosta, Ga., according to Richard D. Matricaria, regional manager of the firm’s Tampa office. The sales price is approximately $25.1 million. John E. (Jay) Brigel, a senior associate in Marcus & Millichap’s Tampa office represented the three sellers, who are all local apartment operators in Valdosta. Brigel also represented the buyer, an Atlanta-based limited liability company. Michael Fasano, vice president and regional manager of Marcus & Millichap’s Atlanta office, is the firm’s broker of record in Georgia.

The properties ring the Valdosta State University campus. They are:

· Brooks Trace, 32,000 square feet
· Brookwood Forest, 49,112 square feet
· Jackson Square, 43,568 square feet
· Little Jo Court, 32,000 square feet
· Sustella Townhomes, 57,120 square feet

“The properties in this portfolio are the ‘Boardwalks’ and ‘Park Places’ of Valdosta student housing, and the transaction is the one of the largest student housing ownership changes in Valdosta’s history,” says Brigel.

You may also like