Marcus & Millichap Closes $46 Million Retail and Office Portfolio Sale with Horizon Equities
Summary
The income from this portfolio is diversified by a large number of tenants, which mitigates risk.” Cafiero, Brent Hyldahl and Seth Goldberg of Marcus & Millichap, along with Brad Nathanson, IPA senior managing director investments, represented the seller, Edele Hovnanian, and procured the buyer, Horizon Equities. The portfolio benefits from strong local demographics in Toms River, Brick, and Lakewood, densely populated municipalities in Ocean County, where average annual household income is nearly $100,000. 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. Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios.