Institutional Property Advisors (IPA), a division of Marcus & Millichap, 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.
Canfield Park at Fairfield Metro features floorplans of studio to 2-bedroom and 1- to 2-bathrooms ranging in size from 550 to 1,200 square feet. The community is located at 215 Alfred Street in Bridgeport.
The New York-based IPA Capital Markets team of Marko Kazanjian, Max Herzog, Andrew Cohen and Max Hulsh secured agency financing on behalf of their client, a new joint venture between an institutional investment management firm and a NYC-based multifamily owner/operator focused on acquiring value-add apartment assets in the Northeast.
“Our IPA Capital Markets team is excited to help expand the sponsorship team’s portfolio,” said Kazanjian. “From the moment the opportunity was presented to the capital partner, it was clear they understood the long-term value of the acquisition. The newly built assets’ premier location adjacent to the Fairfield–Black Rock train station, coupled with our ability to facilitate a smooth agency financing process contributed to a successful execution for all parties.”
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
Institutional Property Advisors (IPA) is a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios.
