IPA Capital Markets, a division of Marcus & Millichap 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.
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 NYC-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,” Kazanjian said. “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. With over $1.5 billion currently in the market, we remain active and committed to delivering exceptional opportunities for our clients.”
