The RMG Group Acquires Multifamily Property In Belleville For $6M

The RMG Group has acquired a multifamily property located at 417 Main Street in Belleville. The transaction was facilitated by Kevin McCrann of Redwood Realty Advisors on behalf of the buyer. The seller in the deal was Gabriel Realty. The property consists of 46 units, totaling 50,000 square feet, and was sold for a price of $6,000,000. The per unit price was $130,435, and the price per square foot was $120.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $6,000,000
• Date: 01/27/2022
• Address: 417 Main Street
• Market: Belleville

Kevin McCrann of Redwood Realty Advisors represented The RMG Group in the transaction, showcasing their expertise in the Belleville market. The successful acquisition of this multifamily property highlights the strong demand for such assets in the area.