Witten and Nolletti of Marcus & Millichap, Walsh and Thomas of SIRA broker $36.5m

Steve Witten and Victor Nolletti of the New Haven, Conn. office of Marcus & Millichap Real Estate Investment Services and Mark Walsh and John Thomas of Select Investment Realty Advisors of Smithtown were the brokers in the $36.5 million sale of the six-property, 324-unit multifamily portfolio in Westchester County. All six properties have been well maintained, the majority having undergone recent renovations with updated kitchens and bathrooms, and new windows and roofs. The portfolio is comprised of: * Patricia Apartments in Peekskill, which has 100 units consisting of one-bedroom flats and two and three-bedroom townhouses units. * Bari Manor Apartments in Croton-on-Hudson, which consists of 82 renovated studio, one, two and three-bedroom apartments. * Hudson View Estates in Peekskill, which consists of 71 renovated one, two and three-bedroom direct entry apartments. * Sparta Green Apartments in Ossining, which has 43 renovated one and two-bedroom flats and two-bedroom townhomes with private entrances. * Sherwood Townhouse and Sherwood House in Ossining, consisting of 28 renovated one-bedroom flats and two-bedroom townhomes. Multifamily remains the preferred investment property type for institutional and private investors delivering stable, solid returns, particularly in the supply-constrained New England markets. The 324-unit portfolio was sold by Home Properties L.P. and the buyer was Morgan Bari Manor LLC, Morgan Hudson View LLC, Morgan Sherwood LLC, Morgan Sparta Green LLC and Morgan Patricia LLC. Financing was provided by Fannie Mae through M & T Realty Capital Corp. (a Fannie Mae DUS lender).