MARCUS & MILLICHAP MANAGES $22.8 MILLION LUXURY APTS. SALE

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RANCHO PALOS VERDES, CALIF. — Marcus & Millichap has brokered the more than $22.8 million sale of The Madison, a 90-unit luxury apartment building located at 6507 and 6510 Ocean Crest Drive in Rancho Palos Verdes. The 118,874-square foot property features 19 one-bedroom/one-bath units and 71 two-bedroom/two-bath apartments. Marcus & Millichap’s Ron Harris represented both the Phoenix-based buyer, Alliance Residential, and the seller, a Northern California-based investment group, in the transaction.

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