IPA Capital Markets, a division of Marcus & Millichap specializing in capital markets services for major private and institutional clients, has 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, N.J. Built in 2006, the property is adjacent to the Hudson River and directly across from Manhattan.
The New York-based IPA Capital Markets team arranged acquisition financing with Bank of America on behalf of its client, a new joint venture between a New York-based multifamily owner/operator focused on acquiring value-add apartment assets in the Northeast and a global institutional investment manager.
