Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Campus Cottages, a 44-unit apartment community located in Hattiesburg, Mississippi. The asset sold for $2.35 million, or $53,409 per unit.
“This sale represents the continued transaction momentum throughout Hattiesburg,” says Andrew Jacobs, an investment advisor in the firm’s Birmingham office. “Both regional and national investors have keyed in on the solid fundamentals of this region due to the lack of supply and the value-add component many of these transactions possess.”
Andrew Jacobs, alongside Josh Jacobs and Royce Emerson, marketed the property on behalf of the seller, in addition to procuring the buyer. Mickey Davis assisted in the transaction as Mississippi broker of record.
Campus Cottages is located at 119 North 35th Street in Hattiesburg, less than a half-mile away from the University of Southern Mississippi’s 14,146-student campus. Built in 1967 on 1.65 acres, the property features one- and two-bedroom floor plans.