Marcus & Millichap: negotiating the sale of an eight-unit building in Fort Collins, Colorado


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Marcus & Millichap negotiates the sale of an eight-unit building in Fort Collins, Colorado

November 18, 2022

FORT COLLINS, Colo., November 18, 2022 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 317 Remington Street, an eight apartment property located in Fort Collins, Colorado. The asset sold for $1,735,000 or $216,875 price/unit.

The buyer, a limited liability company, was secured and represented by Spencer Shaffer, Partner, at Marcus & Millichap’s Denver office.

This asset is located in Old Town Fort Collins, which is full of charming historic spots such as the Armstrong Hotel, Town Pump Bar, and Old Town Square. 317 Remington Street is just a 15-minute walk from the Colorado State University campus, making it a prime location for students and faculty.

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About Marcus & Millichap (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices in the United States and Canada. As of December 31, 2021, the company had 1,994 sales and investment finance professionals across 82 offices that provide investment brokerage and finance services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to its clients. Marcus & Millichap completed 13,255 deals in 2021, with sales volume of approximately $84.4 billion. For more information, please visit www.MarcusMillichap.com.

Disclaimer

Marcus & Millichap Inc. published this content on November 18, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on November 18, 2022 6:28:05 PM UTC.

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MARCUS & MILLICHAP, INC. Analyst Recommendations

2022 sales 1,451 million

Net income 2022 130M

Net debt 2022

PER 2022 ratio 11.3x
2022 return 4.11%
Capitalization 1,438 million
1,438 million
capi. / Sales 2022 0.99x
capi. / Sales 2023 0.92x
# of employees 801
Floating 96.6%

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Medium consensus SALE
Number of analysts 1
Last closing price $36.53
Average target price $26.00
Average Spread / Target -28.8%


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