Marcus & Millichap Brokers Sale of California Apartment Complex with Expertise in Commercial Real Estate

Marcus & Millichap, a commercial real estate brokerage company, has brokered the sale of a California apartment complex. The company specializes in commercial real estate investment sales, financing services, research, and advisory services, serving clients in four market segments: properties, private client market, middle market, and larger transaction market.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), has announced the sale of Cypress Point, a 268-unit multifamily property in Ventura, California, for $100 million. The transaction, which equates to $373,134 per unit, marks a significant milestone in the company's real estate investment portfolio.

Cypress Point, built in 1990, is a low-density, value-add opportunity asset that had been owned and maintained by the original developer since its inception. The property's strong performance history includes an average occupancy rate of 97.6% over the last five years. The property's strategic location, close to major freeways, employment centers, and public transportation, further enhances its appeal.

The sale was facilitated by IPA's executive managing directors, Kevin Green, Joseph Grabiec, and Gregory Harris, who represented the seller, County Center LP, and procured the buyer, Raintree Partners. The property's unique features, including 28 two-story apartment buildings, a fitness center, clubhouse, and ample parking, contributed to its attractiveness to investors.

This transaction underscores Marcus & Millichap's expertise in commercial real estate investment sales, financing, and advisory services. The company's ability to match buyers and sellers in the multifamily market highlights its commitment to maximizing value for both parties.

References:
[1] https://www.morningstar.com/news/business-wire/20250826456218/institutional-property-advisors-brokers-100m-sale-of-ventura-county-multifamily-asset
[2] https://www.marketscreener.com/news/institutional-property-advisors-brokers-100m-sale-of-ventura-county-multifamily-asset-ce7c50d9d18cff20