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EAST ORANGE AND IRVINGTON, N.J. — Marcus & Millichap has arranged the $92.5 million sale of a 24-property, 702-unit multifamily portfolio in East Orange and Irvington, two cities located in Essex County. Approximately 55 percent (390) of the units are located in East Orange, and the remaining units (312) are located in Irvington. Richard Gatto and Fahri Ozturk of Marcus & Millichap represented the seller, a partnership between ERCT Capital Group, MAVeCap and Metropolitan America, in the transaction. Eric Anton and Chris Warner in the firm’s Manhattan office represented the buyer, Spaxel LLC, a New York-based multifamily developer. Brad Domenico of Progress Capital arranged $81 million in acquisition financing for the deal.