MMI Real estate

Institutional Property Advisors Brokers Sale of $148M Inland Empire Multifamily Asset, First of its Kind Since 2021

Published August 06, 2025 at 01:13 AM

REDLANDS, Calif.--(BUSINESS WIRE)---- $mmi #alexandergarciajr--Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE:MMI) dedicated to serving the company’s institutional clients, announced the $148.4 million sale of The Venue at Orange, a newly built, 328-unit multifamily property in Redlands, California. The sales price equates to $452,439 per unit. “Completed in 2023, The Venue at Orange is a stabilized, best-in-class multifamily asset that achieved a swift and successful lease-up to a tenan

Related Questions

Does the $452,439 per unit price represent a premium relative to comparable multifamily assets in Southern California? What are the projected cap rates and rent growth assumptions underpinning this valuation, and are they sustainable in the current interest‑rate environment? What impact might this transaction have on MMI’s stock price and trading volume in the short term? How does this sale compare to recent comparable multifamily transactions by competitors such as CBRE, JLL, and Cushman & Wakefield? What does the swift lease‑up and stabilization of a 2023‑built asset indicate about demand for new‑class multifamily in the Inland Empire? What is the likelihood of follow‑on purchases in the Redlands market, and could this set a new pricing benchmark for future transactions? Are there any tax or regulatory considerations (e.g., 1031‑exchange, REIT rules) that could affect the net proceeds or future strategy? How might this sale influence the pipeline of upcoming IPA‑brokered multifamily deals and investor sentiment toward the segment? How will the $148.4 million sale price of The Venue at Orange affect Marcus & Millichap’s (MMI) earnings and valuation? Will the proceeds from this sale be used to fund further acquisitions, reduce debt, or support dividend payments?