Institutional Property Advisors (IPA), a division of Marcus & Millichap, specializing in capital markets services for major private and institutional clients, has successfully arranged $165.9 million in financing on behalf of the DSF Group for the acquisition of the Town Square at Mark Center in Alexandria, Virginia.
IPA Capital Markets in Los Angeles represented the borrower, the DSF Group, a Boston-based leader in multifamily investment. The Town Square at Mark Center is a 678-unit apartment and townhome community situated in one of Northern Virginia’s most dynamic submarkets. “The 98% occupied property represents an outstanding investment opportunity with substantial value-add potential,” said Cameron Chalfant, senior managing director, IPA Capital Markets. “Planned renovations will improve the living experience, aligning the property with the demands of a high-quality tenant base.”
“Representing the DSF Group on this landmark transaction demonstrates IPA’s strength in handling complicated and high-profile deals that require nuanced market and finance expertise along with a customized approach,” said Brian Eisendrath, executive managing director, IPA Capital Markets. “Town Square at Mark Center’s prime location, coupled with the DSF Group’s forward-thinking vision and exceptional operational execution, ensures its potential for remarkable long-term success. The transaction also represented a strong finish to 2024 for our team as we begin another active stretch in the market.”
Eisendrath added: “Despite a rising treasury environment, achieving 70% LTV along with a 35-year amortization helped the DSF Group achieve its targeted return metrics. The client effectively mitigated interest rate risk by executing an early rate lock with a treasury yield approximately 15 basis points below its peak.”
“With deep market knowledge and their extensive network, IPA Capital Markets has become a trusted advisor in helping clients achieve their growth and investment objectives,” said Evan Denner, executive vice president and head of business, Marcus & Millichap Capital Corporation.
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.
