Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of One Pine Apartments, a 288-unit apartment property located in Houston, 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 limited liability company. The buyer, a limited liability company, was secured and represented by Jeffrey Fript and Christian Mazzini.

“The Buyer plans to perform extensive exterior and interior upgrades to the asset in an effort to increase rents”, according to Fript.

One Pine Apartments is located at 4300 Sherwood Lane in Houston, Texas.

About Marcus & Millichap (NYSE: MMI)

With over 1,800 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 over 9,000 transactions in 2017 with a value of approximately $42.2 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