Marcus & Millichap Real Estate Investment Services recently closed the sale of the Maple/Lee Apartments, a 104-unit apartment property located at 5900 – 6300 Lee Road in Maple Heights, Ohio.
The asset commanded a sales price of $1,025 million, which translates to $9,856 a unit.
Dan Burkons and Michael Barron, vice presidents of investments in Marcus & Millichap’s Cleveland office, had the exclusive listing to market the property on behalf of the seller, who had owned the complex for 50 years.
Burkons and Barron secured the buyer, a limited liability company based in Chicago, too.
