MARCUS & MILLICHAP MANAGES $9.5 MILLION MULTIFAMILY SALE IN THE DESERT

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NORTH LAS VEGAS, NEV. — Marcus & Millichap has negotiated the $9.5 million sale of 157 units at Palmilla, a townhome property located at 5850 Palmilla Street in North Las Vegas. Developed in 2006-2007, the 244,000-square-foot multifamily property sits adjacent to the master-planned community of Aliante. Marcus & Millichap's Michael LaBar and Evan Griffith represented the seller, a receiver for a large financial institution, of the 90 percent-leased property. The sale represents 157 out of Palmilla’s 300 total units.

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