MARCUS & MILLICHAP BROKERS TWO MULTIFAMILY SALES TOTALING $4.17 MILLION

LODI, N.J., AND ALDAN, PA. — Marcus & Millichap has completed two multifamily sales. In Lodi, the firm’s New Jersey office brokered the sale of a 24-unit apartment property for $2.7 million. Marcus & Millichap’s Kevin McCrann and Thomas McConnell represented the seller, a private investor whose family built the property and has operated it for three generations. In Aldan, Marcus & Millichap’s Philadelphia office brokered the $1.47 million sale of the Maryland Avenue Apartments, a 30-unit property located at 78 W. Maryland Ave. The property contains a mix of one- and two-bedroom units, and it was approximately 97 percent occupied at the time of sale. Mark Wolff of Marcus & Millichap represented the seller, a local partnership, and procured the buyer, another local partnership.