Articles from Marcus & Millichap

IPA Capital Markets, a division of Marcus & Millichap (NYSEMMI), specializing in capital markets services for major private and institutional clients has secured $110 million in joint venture equity and agency financing for the acquisition of Canfield Park at Fairfield Metro, two adjacent multifamily properties located in Bridgeport, Connecticut. Built in 2023, the properties feature a combined 300 units and are located near the local transit station in Bridgeport’s Black Rock neighborhood.

IPA Capital Markets, a division of Marcus & Millichap (NYSEMMI), specializing in capital markets services for major private and institutional clients, has secured $75 million in acquisition financing for the former Pfizer headquarters in New York City. Located at 219 E 42nd St., the property will be combined with the adjacent building at 235 E 42nd St. and converted into a free-market, Class-A, luxury multifamily apartment building.

IPA Capital Markets, a division of Marcus & Millichap (NYSEMMI), specializing in capital markets services for major private and institutional clients, announced today the hiring of Harry Krieger as a managing director, responsible for placing debt for institutional clients.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of Marlowe Grapevine, a 324-unit multifamily asset in Grapevine, Texas.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced the sale of Solis, a 216-unit multifamily property in Clarksville, Tennessee.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of AVA North Hollywood, a 156-unit multifamily property with 11,000 square feet of ground floor retail in the NoHo Arts District of Los Angeles, California. The $62.1 million sales price represents $393,077 per unit.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, has been recognized with a Best Place to Work award from national commercial real estate (CRE) media GlobeSt. Real Estate Forum for a second consecutive year. Recognition was based on a wide range of attributes, including culture, work ethos, corporate leadership, spirit of giving back to the community, and the affection with which employees hold the firm.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of Prado, a 251-unit multifamily asset in Santa Clara, California. The property traded for $125 million, or $498,008 per unit. IPA Capital Markets arranged $73.5 million in acquisition financing.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale and financing of Alta Chandler at The Park, a 291-unit mid-rise multifamily asset in Chandler, Arizona. The property traded for $94.5 million, which represents $324,742 per unit. IPA Capital Markets arranged $52 million in acquisition financing.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Chateau de Ville, a 254-unit multifamily property in Anaheim, California. The asset was brought to market for the first time in over 50 years and traded for $79,076,710 or $311,326 per unit.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today it has made an equity investment in EquityMultiple, a New York-based real estate financing and investment technology platform. The partnership will provide sponsors and operators supplemental private capital financing sources and give accredited investors streamlined access to unique real estate equity and credit opportunities.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today a strategic partnership that includes an equity investment and commercial relationship with Archer, a venture-backed real estate technology company.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), has published a Special Texas Multifamily Construction Report.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), has published its Class A Multifamily Outlook Midyear 2023 special report.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, has published its National Single-Tenant Net Lease (STNL) 1H 2023 research report.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today an exclusive representation agreement with Deep South Studios LLC to secure joint venture equity in connection with the development of Deep South Studios Phase I. The project is a 262,560-gross-square-foot, full-service motion picture and television production facility in New Orleans, Louisiana. Upon completion the facility will be the largest of its kind in the Southeastern United States. The remaining 85% construction is expected to take 12 to 18 months. Eric Michael Anton and Henri M. Kessler of Marcus & Millichap’s Global Capital Division are representing the sponsor, Deep South Studios LLC.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today that Eric Anton and Nelson Lee were awarded the Real Estate Board of New York’s (REBNY) “Most Ingenious Deal of the Year” top honor for the sale of the leasehold interest at the Martinique Hotel in New York City. This was the 78th installment of this prestigious industry award.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced the sale of Freedom Town Center, a 350,800-square-foot grocery-anchored shopping center in Fayetteville, North Carolina. The center sold for $83 million, which represents $236 per square foot.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced the sale of The Benson, a 236-unit multifamily property in Upland, California. The asset sold for $80.75 million, or $342,161 per unit.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced today that Mira Wolff has joined the firm as senior vice president and chief human resources officer (CHRO). Wolff has over 25 years of experience in human resources management, advising numerous organizations on recruiting and retention of top talent, employee engagement, strategic planning, and technology-based training. Her experience includes all aspects of sourcing, onboarding, and integration involved in over 80 acquisitions.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced the sale of Penrose Plaza, a 258,494-square-foot shopping center in Philadelphia, Pennsylvania, at a purchase price of $52 million.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Martinique New York on Broadway, a 531-room landmark hotel on the corner of 32nd Street and Broadway in Manhattan. The asset was purchased for $55.5 million with an approximated total development cost of $110 million.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of Incline at Anthem, a 298-unit, age 55-plus multifamily complex in Herriman, Utah.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of 10 multifamily assets totaling 2,290 units in San Antonio, Texas over 10 weeks. The properties sold for a total of $568.45 million.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today that Andrew Strockis has joined the firm as senior vice president and chief marketing officer (CMO). Strockis comes to Marcus & Millichap from a seven-year tenure at Charles Schwab, where he served as vice president and head of retail client and product marketing.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the William A. Millichap Fellowship Program, a comprehensive two-year training and development program designed to prepare participants for rewarding careers in commercial real estate. The search for the inaugural cohort of Winter 2022 Fellows is currently underway.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of The Vistas of Port Jefferson, a 244-unit, age 55-plus multifamily property in Port Jefferson Station, New York. The asset sold for $118 million, or $483,607 per unit.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today that its financing subsidiary, Marcus & Millichap Capital Corporation (MMCC) has entered into a strategic alliance with M&T Realty Capital Corporation (M&T Realty Capital). The strategic alliance will enable MMCC to provide clients with increased access to M&T Realty Capital’s affordable and conventional multifamily agency financing through a highly streamlined process with dedicated resources. M&T Realty Capital is a Fannie Mae DUS lender and an approved Freddie Mac multifamily lender for Freddie Mac’s Conventional and Targeted Affordable Housing loans.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of Accolade, a 548-unit multifamily asset in Phoenix, Arizona. The property sold for $155 million or $282,847 per unit. The transaction is one of the top five largest multifamily sales on record in Arizona by total purchase price.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Skandia Mobile Country Club, a 167-unit mobile home complex in Huntington Beach, California. The property sold for $58 million, or $347,305 per space.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of two adjacent multifamily assets located two blocks from the beach in Hermosa Beach, California. The assets are 285-unit Playa Pacifica and 169-unit The Gallery, which sold for $162.5 million and $112.5 million respectively.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced the sale of Capella at Rancho del Oro, a 284-unit multifamily asset in Oceanside, California. The property traded for $110 million, which equates to $387,324 per unit.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of The Preserve at Great Pond, a newly constructed, 230-unit luxury apartment complex in Windsor, Connecticut. The property sold for $63 million.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of The Dylan, a 208-unit apartment complex in Oceanside, California. The property sold for $74.1 million, or $356,250 per unit.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research, and advisory services, announced the sale of nine hospitality properties across eight states, amassing 1,550,000 square feet with a total value of approximately $225 million.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced the sale of Camp Hill Shopping Center, a 430,198-square-foot shopping center located at 3301 Trindle Road in Camp Hill, Pennsylvania. The sales price is approximately $90 million.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced the sale of Domain Founders Parc, a 285-unit apartment property located within Founders Parc, the newest mixed-use development in Euless, Texas.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of Level at Sixteenth, a 240-unit, mid-rise apartment community in the urban core of Phoenix, Arizona. The property traded at $69.1 million, or $287,917 per unit.

Marcus & Millichap (NYSEMMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced that Richard Matricaria and J.D. Parker have been promoted to COO Western Division and COO Eastern Division, respectively. In April 2019, they were named executive vice presidents of the operating company, responsible for overseeing the company’s division managers and specialty directors as part of the leadership succession plan.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), as exclusive advisor to Cincinnati-based The Kroger Co. and Portland-based Fred Meyer Stores Inc., announced today the successful sale to Florida-based Benderson Development and leaseback of a 4.5-million-square-foot, 28-property portfolio of absolute net-leased Fred Meyer superstores consisting of 380 acres across Washington, Oregon, Idaho, and Alaska.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of Mag & May, a 240-unit apartment property in the Magnolia Urban Village community of Fort Worth, Texas.

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSEMMI), announced today the sale of District at Grand Terrace, a 352-unit multifamily property in Colton, California. The property sold for $88 million, or $250,000 per unit.