MARCUS & MILLICHAP BROKERS TWO MULTIFAMILY SALES
CARPENTERSVILLE, ILL., AND COLUMBUS, OHIO — Marcus & Millichap has arranged the $23.05 million sale of Fox View Apartments located at 3 Oxford Rd. in Carpentersville. The 373-unit affordable housing community has a 95 percent Housing Assistance Payments (HAP) contract in place, as well as an existing Section 236 mortgage. The 326,868-square-foot community houses 109 two-bedroom/one-bath units and 264 three-bedroom/one-bath townhouses. Scott Harris and Kyle Shoemaker in the Oak Brook, Ill., office of Marcus & Millichap, as well as Paul Davis and Andrew Daitch in the firm’s Detroit office, represented the undisclosed seller in the transaction. Marcus & Millichap also represented the undisclosed buyer in the transaction. Additionally, the Columbus office of Marcus & Millichap has brokered the sale of Creekbend, a 64-unit multifamily community located in Columbus. A private limited liability company has purchased the property from an undisclosed institutional owner for $1.2 million. The property, which was 87 percent occupied at the time of closing, houses 32 one-bedroom and 32 two-bedroom units. J Rosenbusch and Matthew Gockstetter of Marcus & Millichap represented both the buyer and seller in the transaction.