IPA Capital Markets Arranges $17M Loan for Acquisition of Student Housing Property in Ann Arbor

ANN ARBOR, MICH. — IPA Capital Markets, a division of Marcus & Millichap, has arranged a $17 million loan for the acquisition of a 62-unit student housing property adjacent to the University of Michigan’s main campus in Ann Arbor. Max Hulsh, Max Herzog, Marko Kazanjian and Andrew Cohen of IPA arranged the loan through A10 Capital on behalf of the borrower, Havenly Ventures, a New York City-based real estate investment firm that specializes in value-add acquisitions primarily in the student housing sector. The buyer plans to densify the property’s oversized two-bedroom units into four-bedroom units. The asset has maintained full occupancy for over 25 years.