Press Releases
Marcus & Millichap Brokers $6.65M Sale of 81-Unit Multifamily Portfolio in Michigan
July 29, 2025
GRAND RAPIDS, Mich., July 29, 2025 – 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 an 81-unit multifamily portfolio in the Grand Rapids, Michigan MSA, for $6,651,000.
“This transaction reflects the continued investor interest in the Grand Rapids market, which remains one of the most sought-after areas in Central Michigan due to its strong demographics, major employers and consistent rental housing demand,” said Aaron Kuroiwa, senior managing director investments. “The seller was motivated by an upcoming loan maturity, while the buyer, an active investor represented by Lighthouse PM, saw a clear opportunity to expand their footprint. They plan to renovate all units and enhance the community through targeted property improvements.”
Kuroiwa and Austin Meeker, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller and procured the buyer. Steve Chaben is the firm’s broker of record in Michigan.
The portfolio comprises 81 units across two locations: 53 units in Wyoming, Michigan, at 2855, 2872 and 2875 Taft Ave., and 3530 Byron Center Ave.; and 28 units in Holland, Michigan, at 863, 956 and 857 Lincoln Ave. The properties feature a unit mix of one- and two-bedroom floor plans and are less than 30 minutes apart.
“This transaction reflects the continued investor interest in the Grand Rapids market, which remains one of the most sought-after areas in Central Michigan due to its strong demographics, major employers and consistent rental housing demand,” said Aaron Kuroiwa, senior managing director investments. “The seller was motivated by an upcoming loan maturity, while the buyer, an active investor represented by Lighthouse PM, saw a clear opportunity to expand their footprint. They plan to renovate all units and enhance the community through targeted property improvements.”
Kuroiwa and Austin Meeker, investment specialists in Marcus & Millichap’s Indianapolis office, had the exclusive listing to market the property on behalf of the seller and procured the buyer. Steve Chaben is the firm’s broker of record in Michigan.
The portfolio comprises 81 units across two locations: 53 units in Wyoming, Michigan, at 2855, 2872 and 2875 Taft Ave., and 3530 Byron Center Ave.; and 28 units in Holland, Michigan, at 863, 956 and 857 Lincoln Ave. The properties feature a unit mix of one- and two-bedroom floor plans and are less than 30 minutes apart.
# # #
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 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 clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
