MARCUS & MILLICHAP,

WASECA, Minnesota, November 22, 2022 - 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 Charter Oaks Townhomes, a 33-unit apartment property located in Waseca, Minnesota, according to Todd E. Lindblom, regional manager of the firm's Minneapolis office. The asset sold for $2.9 million.

Chris Collins, Evan Miller, David Wallace, and Matthew Shide, investment specialists in Marcus & Millichap's Minneapolis office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Chris Collins, David Wallace, Evan Miller and Matthew Shide.

Charter Oaks Townhomes is located at 301 Lake Street NW in Waseca, Minnesota. Built in 2001, Charter Oaks Townhomes is an LIHTC Townhome Community that features twenty 2-bedroom/2-bathroom units and thirteen 3-bedroom/2-bathroom units at 1,270 square feet. The property also features individual garage stalls, a playground, and ample off-street parking.

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About Marcus & Millichap (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, 2021, the company had 1,994 investment sales and financing professionals in 82 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 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.