IPA Capital Markets Arranges $27 Million Financing for Luxury Washington, D.C. Multifamily Asset
April 23, 2026
WASHINGTON, D.C., April 23, 2026 – IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI) specializing in capital markets services for major private and institutional clients, has arranged $26,875,000 in financing, along with joint venture equity, for the acquisition of The Pinnacle, a newly built 115-unit luxury multifamily community in Washington, D.C.’s NoMa submarket.
Led by Max Hulsh in the firm’s Manhattan office, the IPA Capital Markets team arranged the acquisition financing with Prime Finance. The loan was secured on behalf of July Residential Group, a vertically integrated multifamily investment and management firm operating thousands of units across major U.S. markets.
“Completed in May 2024, the asset was acquired at a 35% discount to the seller’s $48 million cost basis,” said Hulsh. “The financing effectuated the discounted acquisition with accretive, competitively priced financing, enabling the sponsor to execute their business plan. The value-add bridge market remains one of the most competitive segments in private credit. We ran a broad process that resulted in higher-leverage financing priced comparably to permanent capital, driven by the SOFR-Treasury spread, while maintaining the flexibility of a debt fund structure. We paired Prime’s debt with structured equity, allowing our client to retain full upside as they execute their business plan.”
Led by Max Hulsh in the firm’s Manhattan office, the IPA Capital Markets team arranged the acquisition financing with Prime Finance. The loan was secured on behalf of July Residential Group, a vertically integrated multifamily investment and management firm operating thousands of units across major U.S. markets.
“Completed in May 2024, the asset was acquired at a 35% discount to the seller’s $48 million cost basis,” said Hulsh. “The financing effectuated the discounted acquisition with accretive, competitively priced financing, enabling the sponsor to execute their business plan. The value-add bridge market remains one of the most competitive segments in private credit. We ran a broad process that resulted in higher-leverage financing priced comparably to permanent capital, driven by the SOFR-Treasury spread, while maintaining the flexibility of a debt fund structure. We paired Prime’s debt with structured equity, allowing our client to retain full upside as they execute their business plan.”
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.