Marcus & Millichap Inc.
09/19/2024 | Press release | Distributed by Public on 09/19/2024 16:52
Marcus & Millichap Brokers Sale of 56-Unit Apartment Property in Ocean Springs, Mississippi
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Marcus & Millichap Brokers Sale of 56-Unit Apartment Property in Ocean Springs, Mississippi
September 19, 2024
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OCEAN SPRINGS, Miss., Sept. 19, 2024 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Dominion Apartments, a 56-unit apartment property located in Ocean Springs, Mississippi.
"Dominion Apartments represents the buyer's first acquisition in Mississippi," said Preston Cooper, first vice president investments. "They were attracted to this market based on the condition of the property and its quality in-place management, as well as the high-income demographics and rapid growth in the submarket."
Cooper and Matt Smith, investment specialists in Marcus & Millichap's Birmingham office, represented the seller, Dearman Properties, and procured the buyer, 3H Management. Mickey Davis, Broker of Record in Mississippi, assisted in closing the transaction.
Located on 3.11 acres at 310 Holcomb Boulevard, the property features 56 units offering a mix of one-, two- and three-bedroom floor plans across 57,624 rentable square feet. Built in 2008, the asset sits in the Gulfport-Biloxi metropolitan area with proximity to Interstate 10 and the Gulf Islands National Seashore.
"Dominion Apartments represents the buyer's first acquisition in Mississippi," said Preston Cooper, first vice president investments. "They were attracted to this market based on the condition of the property and its quality in-place management, as well as the high-income demographics and rapid growth in the submarket."
Cooper and Matt Smith, investment specialists in Marcus & Millichap's Birmingham office, represented the seller, Dearman Properties, and procured the buyer, 3H Management. Mickey Davis, Broker of Record in Mississippi, assisted in closing the transaction.
Located on 3.11 acres at 310 Holcomb Boulevard, the property features 56 units offering a mix of one-, two- and three-bedroom floor plans across 57,624 rentable square feet. Built in 2008, the asset sits in the Gulfport-Biloxi metropolitan area with proximity to Interstate 10 and the Gulf Islands National Seashore.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.