Marcus & Millichap Brokers $2.7 Million Sale of The Villas at Westridge

BIRMINGHAM, Ala., May 31, 2022 - 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 The Villas at Westridge, a 42-unit apartment asset in western Birmingham, Alabama. The asset sold for $2,700,000.

"This particular pocket of Birmingham has experienced considerable activity and momentum in recent years, as several multifamily assets have undergone extensive repositioning," says Josh Jacobs, first vice president investments. "Westridge is a clean workforce community poised for continued growth and we look forward to tracking its progress under new ownership."

Josh Jacobs, Caleb Frizzell and Andrew Jacobs had the exclusive listing to market the property on behalf of the seller, a limited liability company.

The Villas at Westridge is located at 2336 Court R in Birmingham, Alabama, and was constructed in 1975. Westridge benefits from its unique location off interstates 20 and 59, only minutes from downtown Birmingham and the central business district. The property is also situated less than a mile from the Birmingham Crossplex, home to the 2022 World Games, which will attract 3,600 international athletes and over 500,000 spectators.

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About Marcus & Millichap (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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.