MARCUS & MILLICHAP ARRANGES THE SALE OF A 40-UNIT APARTMENT COMPLEX IN PORTSMOUTH, VA

HARTSELLE, AL, June 7, 2018 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of  Kingman Apartments, a 40-unit, 27,000-square-foot multifamily complex located in Portsmouth, Virginia, according to Benjamin Yelm, regional manager of the firm’s Hampton Roads office. The asset sold for $2,259,875.

Altay Uzun and Justin Ferguson, investment specialists in Marcus & Millichap’s Hampton Roads office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Uzun and Ferguson.

Kingman Apartments is located at 3717 Turnpike Rd. and features two-bedroom and three-bedroom units. The property is located within a few miles of the Norfolk Naval Shipyard and the Norfolk Central Business District.