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 Pasadena Portfolio, consisting of two workforce housing properties totaling 227-units located in Pasadena, Texas, according to Ford Noe, Regional Manager of the firm’s Houston office.

Jeffrey Fript, First Vice President Investments and Christian Mazzini, Senior Associate in Marcus & Millichap’s Houston office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was secured and represented by Jeffrey Fript and Christian Mazzini. According to Fript, the buyer plans to make extensive renovations to both the interior and exterior of the properties.

Pasadena Portfolio is located at 2120 Strawberry Road and 3201 Red Bluff Road in Pasadena, Texas.

About Marcus & Millichap (NYSE: MMI)

With over 2,000 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 9,726 transactions in 2019 with a value of approximately $50 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.