Marcus & Millichap brokers sale of 248-unit multifamily property in Bryan

Marcus & Millichap brokers sale of 248-unit multifamily property in Bryan

Marcus & Millichap closed the sale of Retreat at 2818, a 248-unit multifamily property in Bryan, Texas. Alec Schenk, Nick Fluellen, Bard Hoover and John McGregor, investment specialists in Marcus & Millichap’s Dallas office, exclusively marketed the property on behalf of the seller, a Texas-based private client, and procured the buyer, a California-based real estate investment firm. Retreat at 2818 is located at 3301 Providence Ave. and comprises 248 units across 18.84 acres. Built in 1977, the property has received more than $2.8 million in interior and exterior capital improvements. The buyer plans to invest approximately $3 million in additional renovations during its first year of ownership as part of a value-add strategy. The property is located near Texas A&M University and the Bryan-College Station BioCorridor.