IPA Capital Markets Secures $17 Million Acquisition Financing for 123-Bed Community Near University of Michigan

Ann Arbor, Mich. — IPA Capital Markets, a division of Marcus & Millichap, has secured $17 million in financing for the acquisition of a 123-bed student housing property located at 1700 Geddes Ave. near the University of Michigan campus in Ann Arbor. Max Hulsh, Max Herzog, Marko Kazanjian and Andrew Cohen of IPA secured the financing with A10 Capital on behalf of New York City-based investment firm Havenly Ventures. The seller in the transaction was not disclosed. The new ownership plans to add beds to the 62-unit complex, according to Hulsh. The property was fully leased at the time of sale.