Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has announced the purchase and financing of Georgetown Apartments, a multifamily asset consisting of 32 townhouse-style apartments, located at 241 Quinnipiac Avenue in New Haven. The property sold for $3,850,000, with $3,058,000 in financing.

The sale was arranged by investment sales associates Wes Klockner and Eric Pentore in the firm’s New Haven office, and the financing was arranged by Robert Noeldechen, also of Marcus & Millichap’s New Haven office.

According to Noeldechen, “The local area is in a growth and renewal mode, and our client is positioned to take advantage of the local growth while earning a good yield on their investment in terms of IRR and cash on cash returns.”

About Marcus & Millichap Capital Corporation

Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. Through its network of national, regional and local lenders, MMCC provides capital markets products for a wide variety of investment properties, including apartments, shopping centers, office buildings, industrial facilities, single-tenant net-lease properties, seniors housing, hotels/motels, manufactured home communities and self-storage facilities. In 2018, MMCC closed over 1,600 commercial real estate financing transactions totaling $6.2 billion. To learn more, please visit: www.mmCapCorp.com.