News: Front Section
Posted: March 27, 2020
Klockner and Pentore of Marcus & Millichap handle $3.85 million sale - Noeldechen arranges $3.058m in financing
New Haven, CT Marcus & Millichap Capital Corp. has completed the purchase and financing of Georgetown Apartments, a multifamily asset consisting of 32 townhouse-style apartments, located at 241 Quinnipiac Ave. The property sold for $3.85 million, with $3.058 million in financing.
The sale was arranged by investment sales associates Wes Klockner and Eric Pentore in the firm’s local office, and the financing was arranged by Robert Noeldechen, also of the local office.
Noeldechen said, “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.”
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