Marcus & Millichap closed the sale of Tremont Street Apartments, a 62-unit multifamily property located in Avalon on Santa Catalina Island. The property sold for $8.64 million or $139,419 per unit. “Affordable housing transactions often require coordination among multiple parties, and this sale was particularly complex due to the ground lease, HUD approval, HAP contract assignment and Freddie Mac loan assumption,” said Arteen Zahiri, associate director investments. “Successfully navigating...