Marcus & Millichap Arranges Foreclosure Sale of Columbia Heights Multifamily Property

Marcus & Millichap has announced the successful foreclosure sale of 1225 Clifton Street NW, a 19-unit apartment property in Washington, D.C., for $4.35 million. The winning bidder was a local multifamily investor active in the D.C.-area submarket and the property is located in an area with few multifamily properties having traded over the past five years due to its high-barrier-to-entry nature. Marty Zupancic, Dennis Cravedi, Eric Jentoft-Herr, Joseph Tabb and Nick Murray of Marcus & Millichap’s Washington office listed it on behalf of Invictus Capital Partners lender and developed an innovative solution that leveraged their team’s strengths within distressed asset sector to produce results required by their client during this challenging real estate climate period.