Marcus & Millichap Brokers $19M Sale of Apartment Portfolio in Auburn, Alabama
AUBURN, ALA. — Marcus & Millichap has brokered the sale of the Auburn Summit Portfolio, three apartment communities with a total of 187 units in Auburn. Josh Jacobs, Andrew Jacobs, Matthew Prozzillo and Benjamin Skinner of Marcus & Millichap represented the undisclosed seller and procured the Utah-based buyer in the transaction. The sales price was $19 million, or about $101,500 per unit.
The Auburn Summit Portfolio includes the following:
• The Summit at Glenn is a 72-unit multifamily property located at 516 E. Glenn Ave. that was built in 1974.
• The Summit at Dean is a 54-unit multifamily property located at 555 N. Dean Road that was built in 1977.
• The Summit on Ross is a 60-unit multifamily property located at 650 N. Ross St. that was built in 1964.
The properties are locally managed assets located less than two miles from Auburn University.