Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of The Springs of Lake Jackson, a 153-unit apartment property located in Lake Jackson, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office.

Christian Mazzini and Jeffrey Fript, investment specialists in Marcus & Millichap’s Houston office, sourced the buyer, a limited liability company, for the off-market transaction.

According to Mazzini, “the Buyer was attracted to the long-term economic prospects of Brazoria County and excited about the opportunity to create additional value by continuing interior improvements and increasing rents.”

The Springs of Lake Jackson is located at 905 TX-332 W in Lake Jackson, Texas.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 9,472 transactions in 2018 with a value of approximately $46.4 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.