IPA Secures $165.9M Acquisition Financing for 678-Unit Apartment Community in Alexandria, Virginia

by John Nelson

ALEXANDRIA, VA. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $165.9 million in acquisition financing for Town Square at Mark Center, a 678-unit apartment and townhome community located at 1459 N. Beauregard St. in Alexandria, about nine miles south of Washington, D.C.

The borrower, Boston-based DSF Group, purchased the community from an undisclosed seller. IPA’s Los Angeles office arranged the financing, which was underwritten at a 70 percent loan-to-value ratio with a 35-year amortization schedule.

Built in 1996, Town Square at Mark Center was 98 percent occupied at the time of financing.

You may also like