Marcus & Millichap Brokers $4.2M Sale of Multifamily Building in Niles, Michigan

by Kristin Harlow

NILES, MICH. — Marcus & Millichap has brokered the $4.2 million sale of Village West in Niles, a city in Southwest Michigan. The 54-unit apartment building is located at 746 Colony Court. Renovations made to the property in 2020 and 2021 included a new roof, windows and gutters, as well as upgraded electrical and HVAC systems. Aaron Kuroiwa, Jack Friskney and Austin Meeker of Marcus & Millichap represented the seller, a limited liability company that plans on using proceeds from the sale and a 1031 exchange to buy another multifamily asset in Indiana or Florida. The Marcus & Millichap trio also represented the buyer, a limited liability company that secured agency financing with five years of interest-only payments.

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