Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Scarborough Place Apartments, a multifamily property in Athens, Georgia, for $8,875,000. 

“This property was unique given the fractured condo structure,” said Joe Mitchell, senior director investments in Marcus & Millichap’s Atlanta office. “The multiple exit strategies available to the buyer made the deal particularly attractive.” Mitchell represented the seller. Marcus & Millichap’s Marco Welch procured the buyer.  

Scarborough Place Apartments is located at 345 Research Drive and consists of 62 units across multiple two-story residential buildings. The community includes a mix of two- and three-bedroom apartments and totals approximately 94,000 square feet of rentable space. 

The property is situated east of downtown Athens with access to major thoroughfares, the University of Georgia, Piedmont Athens Regional Medical Center and other key employment and retail centers in the market.