Multifamily X Missouri

Marcus & Millichap sells apartment portfolio in Independence

Marcus & Millichap sells apartment portfolio in Independence,ph01

Marcus & Millichap recently sold a three-property apartment portfolio in Independence, Missouri. The portfolio includes 455 units.

The properties sold for a combined sales price of $18.5 million with a total occupancy above 95 percent at the time of the sale.

Bradley Barham in Marcus & Millichap’s Chicago downtown office and Logan Weaver in the company’s Kansas City office represented the seller and buyer in this sale.

The three properties are Cimmaron, a 193-unit apartment community; Hillside Apartments, 108 units; and Sterling 24 Apartments, 154 units.