Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of The Current, a 40-unit apartment property located in Grand Forks, North Dakota.
“The Current is a Low-Income Housing Tax Credit (LIHTC) property, playing a vital role in meeting affordable housing needs within the community,” said Matthew Whiteside, senior managing director investments. “We are dedicated to serving our clients across the
country by delivering exceptional results in both market rate and affordable housing in markets large or small.”
Whiteside, investment specialist in Marcus & Millichap’s Milwaukee office, had the exclusive listing to market the property on behalf of the seller, MDI Limited Partnership #110, and procured the buyer, Kemo Sabe Properties LLC. Jon Ruzicka is the Broker of
Record in North Dakota.
The Current Apartments, located at 215 1st Avenue N., were built in 2007 and feature 15 one-bedroom, one-bathroom units and 25 two-bedroom, one-bathroom units. The property spans .88 acres and is situated just west of the Red River greenway.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
