03:57 PM EDT, 06/04/2024 (MT Newswires) -- Marcus & Millichap's ( MMI ) Institutional Property Advisors division said Tuesday it brokered the sale of the 156-unit multifamily property AVA North Hollywood in Los Angeles for $62.1 million to Prime Residential.

IPA represented the seller, AvalonBay Communities, the company said.

Shares of Marcus & Millichap ( MMI ) fell 2.7% in recent trading.

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