Marcus & Millichap Arranges Sale and Financing of Brea Apartments

Marcus & Millichap arranged the sale and financing of Birch Terrace Apartments, a multifamily property located at 601, 613, and 617 E. Birch St. in Brea. The 36-unit asset sold for $13,605,000 million. Marcus & Millichap Capital Corporation (MMCC), a subsidiary of Marcus & Millichap, arranged $5,000,000 in acquisition financing. 

Tyler Leeson and Matt Kipp, investment specialists in Marcus & Millichap’s Orange County office, marketed the property on behalf of the seller, a limited-liability company based in California. The buyer, an individual investor, was also procured by Leeson, Kipp and Nick Kazemi, also an investment specialist in the Orange County office. 

“Given the very limited availability of fully renovated apartment buildings, Birch Terrace Apartments represents a rare sale within the Orange County market,” said Leeson. “Both buyer and seller were able to achieve their goals with the successful closing of Birch Terrace.”