Lexington Apartment Community Sells for $1,640,000


LEXINGTON, SC, January 22, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, has announced the sale of Lexington Garden Apartments, a 41-unit apartment property located in Lexington, South Carolina, according to Benjamin Yelm, regional manager of the firm’s Columbia office. The asset sold for $1,640,000.

Drew Babcock, first vice president investments in Marcus & Millichap’s Columbia office, had the exclusive listing to market the property on behalf of the seller, a Columbia-based limited liability company.

According to Babcock, “The offering received lots of interest from buyers due to the desirability of investing in Lexington County. We have lots of clients seeking investment opportunities in the Lexington area as a result of the county’s low unemployment rate, strong population growth and solid public school system.”

Lexington Garden Apartments is located at 609 S Lake Dr in Lexington, South Carolina. Constructed in 1993 on 1.98 acres, the property features a mix of studio, one- and two-bedroom units.

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About Marcus & Millichap (NYSE: MMI)
With nearly 2000 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 9,472 transactions in 2018 with a value of approximately $46.4 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, please visit: www.MarcusMillichap.com.

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