PRESS RELEASE: $25 Million Five-Property Student Housing Apartment Portfolio Sale Arranged by Marcus & Millichap

VALDOSTA, GA – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has arranged 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 $25,052,800. 

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 are all landmark, trophy student housing properties that ring the Valdosta State University campus. They are:
* Brooks Trace, 32,000 sf
* Brookwood Forest, 49,112 sf
* Jackson Square, 43,568 sf
* Little Jo Court, 32,000 sf
* Sustella Townhomes, 57,120 sf

“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. 

TAGS: Investment