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Marcus & Millichap

ArizonaInvestment SalesNews

IPA Negotiates $123 Million Sale of 625-Bed Student Housing Community Near Arizona State University

by Katie Sloan

Tempe, Ariz. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of West Sixth, a student housing community located steps from Arizona State University in Tempe. An undisclosed buyer acquired the asset for $123 million. Peter Katz, Steve Gebing and Cliff David of IPA represented the undisclosed seller and procured the buyer in the transaction. Completed in 2011, the two-tower property offers 375 units totaling 625 beds. Shared amenities include a swimming pool, hot tub, business center with private conference rooms, a 24-hour fitness center, tanning beds, a …

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ConnecticutInvestment SalesNews

Institutional Property Advisors Arranges Sale of Three Historic Apartment Buildings Near Yale University

by Katie Sloan

New Haven, Conn. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Cambridge Oxford Apartments, a three-building, 84-unit multifamily community located near Yale University in New Haven. An affiliate of Paredim Partners LLC acquired the property, which is located adjacent to the Yale Center for British Art. The community serves as housing for Yale medical employees, students and faculty. The seller and terms of the transaction were undisclosed. 

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FinanceNew YorkNews

Marcus & Millichap Arranges $16 Million Loan for Refinancing of Student Housing Property Near Monroe College

by Katie Sloan

New Rochelle, N.Y. — Marcus & Millichap Capital Corp. has arranged a $16 million loan for the refinancing of a 282-bed student housing community located at 17 Locust Ave. in New Rochelle, a northern suburb of New York City. The newly built, 94-unit property serves nearby Monroe College. Steven Rock of Marcus & Millichap arranged the loan that was originated at a 65 percent loan-to-value. The loan features a fixed interest rate of 4.98 percent as well as 18 months of interest-only payments. The borrower was not disclosed.

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IllinoisInvestment SalesNewsOff-campus

Marcus & Millichap Arranges $6.8 Million Sale of Student Housing Property Near Illinois State University

by Katie Sloan

Normal, Ill. — Marcus & Millichap has arranged the sale of Lincoln Park Townhomes in Normal for $6.8 million. The 39-unit student housing property is located at 609 S. Fell Ave. near Illinois State University. Each unit features four bedrooms and four bathrooms. Eric Bell and Mitchell Kiven of Marcus & Millichap marketed the property on behalf of the undisclosed seller.

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