Marcus & Millichap Brokers $1.4 Million Norfolk Apartment Sale

NORFOLK, Va., August 8, 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 911 Westover Avenue, an eight-unit apartment building located in Norfolk, Virginia. The asset sold for $1,425,000.

"We were able to secure the deal for the buyer and provide them with a clear strategy to maximize their returns," says Justin Ferguson. "In addition, we will assist the seller in finding a suitable opportunity for a 1031 exchange."

The Uzun Group, consisting of Altay Uzun, Justin Ferguson, David Chae and Theo Jolley, had the exclusive listing to market the property on behalf of the seller, Westover Apts, LLC. The buyer, Shmuel Katz, was also secured by the team.

911 Westover Avenue consists of eight three-bedroom, one-bathroom apartment units across a four-story building that was constructed in 1910.

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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.