1/10/2008

Marcus & Millichap sells 736 units in suburban Cleveland

by Michael Wayne

Richmond Heights

Marcus & Millichap has completed the sale of Richmond Heights, a 736-unit multi-family community in the Cleveland suburb of Richmond Heights, Ohio, for $25.64 million, or $34,388 per unit.

Jim Walsh, Gary Cooper and Matthew Friedman represented the buyer and the seller, both Cleveland-based private investors.

The 548,194 square foot apartment community is located 444 Richmond Park East and is comprised of four, six-story buildings. It is situated on 36.46 acres and contains one, two and three-bedroom units.

Richmond Heights is located approximately 15 miles northeast of Cleveland and has a population of 10,944, according to the U.S. Census Bureau.

Address: 444 Richmond Park East, Richmond Heights, Ohio

Size: 736 units/548,194 square feet

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Filed Under: Multi-Family

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