2B — June 26 - July 16, 2015 — Owners, Developers & Managers — M id A tlantic
Real Estate Journal
www.marejournal.com
O wners , D evelopers &M anagers Talone, Townsend & Sharrow represent both parties Marcus &Millichap arranges the $1.35m sale of 8-units
Expert Engineering & Consulting Services
HILADELPHIA, PA — Marcus & Millichap announced the sale of two multifamily properties to- taling 8 units, located in Center City Philadelphia, according to Brenton James Baskin , regional manager of the firm’s Philadelphia office. The assets sold for $1.35 million. Clarke Talone , Andrew Townsend and Philip Shar- row , investment specialists in Marcus & Millichap’s Phila- delphia office, had the listing to market the properties on behalf of the seller, an individ- ual/personal trust. The buyer, P
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a private investor, was also se- cured and represented by Shar- row, Talone and Townsend. The properties are located at 118 North Lambert St. and 2036 Race St. in the popular Logan Square section of Phila- delphia, PA. “Both properties hold a young professional ten- ant base with zero vacancies. Rents were slightly below market. Also, with the ability to upgrade units, bidders im- mediately saw the upside. With that upside present combined with the current strength of the market, the seller understood there was no better time to capitalize and liquidate,” said Sharrow. n FITECH selected to implement Yardi computing software FAIRFIELD, NJ — FI- TECH , an independent con- sulting and technology servic- es firm serving the real estate industry, has been selected to implement Yardi’s suite of real estate software solutions for Choice New York Manage- ment, LLC . “We look forward to helping Choice NewYorkManagement implement Yardi’s robust real estate management software solutions,” said FITECH CEO Ian Marlow , whose company signed a three-year agreement with Choice New York. FITECH, amember of Yardi’s Independent Consultant’s Network, specializes in man- aged IT services and offers businesses a full range of network services such as sys- temmigrations and upgrades, designing and installing cus- tom networks and encrypted clouds, enterprise resource planning systems, technical support, and business continu- ity services. n
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