IPA Capital Markets, a division of Marcus & Millichap, has secured $174 million in joint venture equity and debt financing for the acquisition of 55 Riverwalk Place, a 348-unit multifamily property located in West New York, NJ. Built in 2006, the property is located adjacent to the Hudson River, directly across from Manhattan.

The New York-based IPA Capital Markets team of Marko Kazanjian, Max Herzog, Andrew Cohen and Max Hulsh arranged acquisition financing with Bank of America on behalf of their client, a new joint venture between a New York-based multifamily owner/operator focused on acquiring value-add apartment assets in the Northeast and a global institutional investment manager.

“The acquisition represents a significant value-add opportunity for the sponsor,” said Kazanjian. “In Q4 2024 alone, our team secured approximately $150 million in JV equity partnerships with an additional $100 million in progress. We are excited about the continued momentum as we begin 2025 and look forward to further expanding our business.”

IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI), announced the $16,975,000 financing for the acquisition of a student housing property consisting of 62 units located adjacent to the University of Michigan’s main campus at 1700 Geddes Ave. in Ann Arbor, Michigan.

The Manhattan-based IPA Capital Markets team of Max Hulsh, Max Herzog, Marko Kazanjian, and Andrew Cohen secured the financing with A10 Capital on behalf of Havenly Ventures, a NYC-based real estate investment firm that specializes in value-add acquisitions primarily in the student housing sector.

“IPA Capital Markets successfully secured competitive bridge financing with a lender that provided maximum flexibility, allowing the borrower to execute their business plan,” said Hulsh. “The plan involves densifying the property’s oversized two-bedroom units into four-bedroom units by converting per-unit metering to bed-by-bed charging.”

Institutional Property Advisors (IPA), a division of Marcus & Millichap, has listed Pacific Trails Apartments, an 84-unit apartment property located in Covina within the San Gabriel Valley. The price is open bid.

“Located close to entertainment and shopping along Arrow Highway and Azusa Avenue, Pacific Trails Apartments has benefitted from numerous recent improvements and remains an excellent candidate for additional value enhancing renovations to optimize operations and increase value,” said Alexander Garcia, Jr., IPA executive director.

Garcia and IPA’s Kyle Pinkalla and Chris Zorbas are representing the seller, a private party.

Built in 1977 and renovated in 2014, Pacific Trails Apartments is a gated, nine-building property that has received unit upgrades and improvements to the swimming pool and spa, barbecue grills, fire pit and courtyard seating. The property is located off Arrow Highway, close to State Route 66 and near Interstates 10, 210, and 605.