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Marcus & Millichap completed the $2.6 million sale of Arcadian House, a 28-unit multifamily property in Bladensburg, Maryland.
“These buildings were built, operated and cared for by the same family for decades, and this marks the first time they have ever traded hands,” said Ryan Murray, associate director of investments. “Coordinating sales to three separate buyers made this a highly complex assignment, and delivering a positive outcome across all eight closings is a tremendous win for our sellers.”
Murray, along with John Slowinski and Marty Zupancic of the Zupancic Group of Marcus & Millichap, represented the seller, Olympia Investments, Inc. The closing of Arcadian House completes the family’s eight-property disposition through a structured Chapter 11 bankruptcy process.
Located at 3901 53rd St., Arcadian House features a mix of one- and two-bedroom units averaging 820 square feet. The property is located near retail and employment centers, including Capital Plaza Shopping Center, Riverdale Park Station, and the Gateway Arts District.
Read more at Connect CRE.
View Arcadian House.
Marcus & Millichap is the nation’s largest brokerage firm focused exclusively on investment sales. It is based on a simple premise: matching each property with the largest pool of pre-qualified investors. With over 2,000 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 8,954 transactions in 2020 with a value of approximately $43 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 about the company, please visit www.MarcusMillichap.com.