Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Village Square a 205-unit property located in Waco, Texas.

Sean Scott, senior associate, Nick Fluellen, senior managing director investments, and Bard Hoover, senior vice president investments, had the exclusive listing to market the property on behalf of the seller, a limited liability company from San Antonio, and procured the buyer, a limited liability company from Dallas.

“The loan on this property was very unusual, long term, low leverage, with uncommon terms,” said Scott. “The buyer assumed the loan and we had to overcome some pretty big challenges on the assumption.”

Village Square is in the thriving northern part of Waco. The property has obtained the same ownership for over 20 years, and a significant amount of money has been spent in recent capital expenditures. The subject property is located at 101 Westcourt Drive in Waco.

About Marcus & Millichap (NYSE: MMI)

With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 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.