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 Phi Delta Theta Student Housing, a 8-unit apartment property located in Orlando, FL, according to Justin W. West, regional manager of the firm’s Orlando office. The asset sold for $1,000,000.

Radford Crouppen, part of the Turchi Vaughan Team, investment specialist in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller, a private investor.

Phi Delta Theta Student Housing is located at 3620 Khayyam Avenue in Orlando, FL. This Property is an 8-unit student housing building across the street from the University of Central Florida that is master leased to the fraternity of Phi Delta Theta. Upon sale a new 10-year lease was executed with the buyer to assure long term occupancy by the student organization.

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.