Marcus multi -stage team closes two multi -family sales in South Carolina – NJ Real Estate NJ

Austin Woods of 7648 Garners Ferry Road and Mallar Pointe at 1101 Hallbrook Drive, as in Colombia, South Carolina – Kindness: Marcus & Millichap

By Joshua Burd

The owner of an apartment in the southeast has sold 360 units in two properties, in a set of deals organized by Marcus & Millichap brokers in South Carolina, New Jersey and Texas.

According to the lists, assets in Colombia, South Carolina, include the 240-one Austin Woods at 7648 Garners Ferry Road and the 120-one Mallar Pointe at 1101 Hallbrook Drive. Both are garden-style complexes less than eight miles from the center of Colombia and the University of South Carolina, two of the largest employment centers in the area, adding to the appeal for future investors.

“The properties are strong value for adding value, even in a challenging market,” says Drew Babkok, the first Vice President for Investment at the Marcus & Millichap Columbia office. “Our joint approach brought many competitive offers that provided a successful result for the seller.”

Babkok and CEZ Eider from the New Jersey team, along with Will Baltrop and Drew Garza, from the Institutional Property Councilor Division, represented the unidentified seller and purchased the buyer. The conditions were not disclosed.

“After negotiating the sale of these assets a few years ago, we were well positioned to help the seller strategically prepare them and navigate the market,” Eider said. “We assembled a team with local experience and institutional scope, attracted many offers and put the seller in a strong position to provide favorable conditions.”

In a news message, Marcus said that Austin Woods was a complex of 20 acres of two and three-storey buildings with a pool, tennis court and washing facilities. Mallard Pointe is a two -storey advantage of 11 acres with a private lake, swimming pool, playground and tennis court.

The properties were opened respectively in 1975 and 1974.

“The IPA provides investors with high quality multi -family capabilities for market investment in the United States and Canada,” Baltrop said.

Ben Yelm, Vice President and Regional Manager, is a Marcus & Millichap broker in South Carolina.