November 27, 2018 Comments Off on MMCC Arranges $3.48M Refi on Bridgeport Apt. Portfolio Views: 2221 New York News, Tri-State Area New York

MMCC Arranges $3.48M Refi on Bridgeport Apt. Portfolio

Marcus & Millichap Capital Corp. has arranged a total of $3.48 million in refinancing for three multifamily properties totaling 62 units in the Fairfield County community of Bridgeport, CT. Robert Noeldechen of Marcus & Millichap’s New Haven office, led the refinance on behalf of an undisclosed owner.

The properties include: Park Avenue Apartments (pictured), 858-860 and 866-872 Park Ave.; Marble Edge Apartments, 2646 Fairfield Ave.; and Main & Federal Apartments, 2445 Main St.

An announcement from Northeast Private Client Group identified the owner as Blue Garden Apartments LLC, which acquired the Bridgeport portfolio in October for $4.3 million.

“The client was pleased with our work on past transactions,” said Noeldechen. “We were able to present a very clear picture to the lender—good information led to a favorable outcome. In this case, we were able to deliver an interest rate that was over 10 basis points lower than at application.”

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