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Marcus & Millichap wraps $22M sale of East Orange high-rise

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Robert Towers in East Orange.
Robert Towers in East Orange. - ()

Marcus & Millichap recently completed the $22 million sale of Robert Towers, an 11-story, 206-unit building in East Orange.

Marcus & Millichap Capital Corp. arranged $19.8 million in acquisition financing. The financing was arranged by Eric Seidel.

Marcus & Millichap’s Richard Gatto and Fahri Ozturk represented the seller, Metropolitan America, and found the buyer, EOA 206 LP.

“Leveraging our platform and process, we generated interest from over 100 investors from 15 offices across the country, created a competitive buying environment and generated 17 offers in 30 days, including five from out-of-market buyers,” Ozturk said.

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Elana Knopp

Elana Knopp

Elana Knopp covers all things real estate for NJBIZ. You can contact her at eknopp@njbiz.com.

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