$174 Million Acquisition Financing and Joint Venture Equity for New Jersey Multifamily Asset Arranged by Marcus & Millichap’s IPA Capital Markets
Marcus & Millichap's IPA Capital Markets has arranged $174 million in joint venture equity and debt financing for the acquisition of 55 Riverwalk Place, a 348-unit multifamily property in West New York, New Jersey. The property, built in 2006, is situated along the Hudson River facing Manhattan.
The financing was secured through Bank of America by the New York-based IPA Capital Markets team for a joint venture between a NYC-based multifamily owner/operator and a global institutional investment manager. In Q4 2024, the team secured approximately $150 million in JV equity partnerships, with an additional $100 million in progress.
The company has a significant market presence with $1.5 billion currently in the market. Marcus & Millichap closed 7,546 transactions in 2023 with a sales volume of approximately $43.6 billion, operating through 1,783 investment sales and financing professionals across over 80 offices in the United States and Canada.
IPA Capital Markets di Marcus & Millichap ha organizzato 174 milioni di dollari in equity e finanziamento debitorio per l'acquisizione di 55 Riverwalk Place, una proprietà multifamiliare di 348 unità a West New York, New Jersey. L'immobile, costruito nel 2006, si trova lungo il fiume Hudson di fronte a Manhattan.
Il finanziamento è stato garantito attraverso Bank of America dal team di IPA Capital Markets con sede a New York per una joint venture tra un proprietario/operatori multifamiliari con sede a New York City e un gestore di investimenti istituzionali globale. Nel quarto trimestre del 2024, il team ha garantito circa 150 milioni di dollari in partnership di equity JV, con ulteriori 100 milioni in fase di sviluppo.
L'azienda ha una presenza di mercato significativa con 1,5 miliardi di dollari attualmente sul mercato. Marcus & Millichap ha chiuso 7.546 transazioni nel 2023 con un volume di vendite di circa 43,6 miliardi di dollari, operando attraverso 1.783 professionisti nelle vendite di investimento e nel finanziamento in oltre 80 uffici negli Stati Uniti e in Canada.
IPA Capital Markets de Marcus & Millichap ha organizado 174 millones de dólares en capital conjunto y financiación de deuda para la adquisición de 55 Riverwalk Place, una propiedad multifamiliar de 348 unidades en West New York, Nueva Jersey. La propiedad, construida en 2006, está situada a lo largo del río Hudson frente a Manhattan.
La financiación se aseguró a través de Bank of America por parte del equipo de IPA Capital Markets de Nueva York para una joint venture entre un propietario/operator multifamiliar de la ciudad de Nueva York y un gestor de inversiones institucional global. En el cuarto trimestre de 2024, el equipo aseguró aproximadamente 150 millones de dólares en asociaciones de capital JV, con otros 100 millones en progreso.
La empresa tiene una presencia significativa en el mercado con 1,5 mil millones de dólares actualmente en el mercado. Marcus & Millichap cerró 7,546 transacciones en 2023 con un volumen de ventas de aproximadamente 43.6 mil millones de dólares, operando a través de 1,783 profesionales en ventas de inversión y financiación en más de 80 oficinas en los Estados Unidos y Canadá.
Marcus & Millichap의 IPA 자본 시장이 1억 7천4백만 달러의 공동 투자 자본 및 차입금을 조달하여 뉴저지 주 웨스트 뉴욕에 위치한 55 Riverwalk Place를 인수했습니다. 이 부동산은 2006년에 지어졌으며, 허드슨 강을 따라 맨해튼을 마주하고 있습니다.
이 자금 조달은 뉴욕에 본사를 둔 IPA Capital Markets 팀에 의해 Bank of America를 통해 보장되었으며, 뉴욕시의 다가구 소유자/운영자와 글로벌 기관 투자 관리자가 공동 투자한 것입니다. 2024년 4분기에는 팀이 약 1억 5천만 달러의 JV 자본 파트너십을 확보했으며, 추가로 1억 달러가 진행 중입니다.
회사는 현재 시장에 15억 달러가 존재하는 등 상당한 시장 존재감을 가지고 있습니다. Marcus & Millichap은 2023년에 약 436억 달러의 판매량으로 7,546건의 거래를 마감하였으며, 미국과 캐나다에 있는 80개 이상의 사무소에서 1,783명의 투자 판매 및 금융 전문가가 활동하고 있습니다.
Les marchés de capitaux IPA de Marcus & Millichap ont arrangé 174 millions de dollars en capitaux propres et en financement par dette pour l'acquisition de 55 Riverwalk Place, une propriété multifamiliale de 348 unités à West New York, New Jersey. Le bien, construit en 2006, est situé le long du fleuve Hudson, faisant face à Manhattan.
Le financement a été sécurisé par la Bank of America par l'équipe des marchés de capitaux IPA basée à New York pour une joint-venture entre un propriétaire/exploitant multifamilial basé à NYC et un gestionnaire d'investissements institutionnels mondial. Au quatrième trimestre 2024, l'équipe a sécurisé environ 150 millions de dollars en partenariats de capitaux JV, avec un complément de 100 millions de dollars en cours.
L'entreprise a une présence significative sur le marché avec 1,5 milliard de dollars actuellement sur le marché. Marcus & Millichap a conclu 7 546 transactions en 2023 avec un volume de ventes d'environ 43,6 milliards de dollars, opérant à travers 1 783 professionnels des ventes d'investissement et du financement dans plus de 80 bureaux aux États-Unis et au Canada.
Marcus & Millichaps IPA Capital Markets hat 174 Millionen Dollar in Eigenkapital und Schuldenfinanzierung für den Erwerb von 55 Riverwalk Place, einer 348-Einheiten Wohnimmobilie in West New York, New Jersey, arrangiert. Die Immobilie, die 2006 erbaut wurde, befindet sich am Hudson River mit Blick auf Manhattan.
Die Finanzierung wurde durch die Bank of America gesichert vom in New York ansässigen IPA Capital Markets Team für ein Joint Venture zwischen einem in NYC ansässigen Eigentümer/Betriebsführer von Mehrfamilienhäusern und einem globalen institutionellen Anlageverwalter. Im 4. Quartal 2024 sicherte das Team ungefähr 150 Millionen Dollar in JV-Eigenkapitalpartnerschaften, mit weiteren 100 Millionen Dollar in der Pipeline.
Das Unternehmen hat eine bedeutende Marktpräsenz mit 1,5 Milliarden Dollar derzeit auf dem Markt. Marcus & Millichap schloss 2023 insgesamt 7.546 Transaktionen mit einem Verkaufsvolumen von etwa 43,6 Milliarden Dollar und operiert mit 1.783 Fachleuten für Investitionsverkäufe und Finanzierungen in über 80 Büros in den Vereinigten Staaten und Kanada.
- Secured $174 million in financing for significant multifamily property acquisition
- Strong Q4 2024 performance with $150 million in JV equity partnerships secured
- Additional $100 million in partnerships in progress
- $1.5 billion currently in market indicating robust pipeline
- Completed 7,546 transactions in 2023 with $43.6 billion sales volume
- None.
Insights
This
The deal structure - combining JV equity with Bank of America financing - reflects sophisticated capital stack engineering, particularly noteworthy given current market headwinds in commercial real estate financing. MMI's ability to close
The acquisition of 55 Riverwalk Place represents a strategic play in the Hudson River waterfront market. The 348-unit property's 2006 vintage and value-add potential make it an attractive investment, especially given its location directly across from Manhattan where rental demand remains resilient. The successful arrangement of institutional capital for this deal indicates continued investor appetite for well-located multifamily assets despite broader market uncertainties.
MMI's expanding capital markets platform, evidenced by
The
“The acquisition represents a significant value-add opportunity for the sponsor,” said Kazanjian. “In Q4 2024 alone, our team secured approximately
About IPA Capital Markets
IPA Capital Markets is a division of Marcus & Millichap (NYSE: MMI). IPA Capital Markets provides major private and institutional clients with commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, and sponsor equity. For more information, please visit institutionalpropertyadvisors.com/capital-markets.
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout
View source version on businesswire.com: https://www.businesswire.com/news/home/20250107481503/en/
Gina Relva, VP of Public Relations
Gina.Relva@MarcusMillichap.com
Source: Marcus & Millichap, Inc.
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