ROUND ROCK, TX– Marcus & Millichap Capital Corporation (MMCC) has arranged a $2.37 million fixed-rate loan for the acquisition of the Center at Cat Hollow, a 10,869-square foot retail center located at 16420 North FM 620.
Travis Fite, an associate in the firm’s Houston office, arranged the financing package for the Center at Cat Hollow.
A pad site was also included in the sale of the Center at Cat Hollow.
“MMCC was able to obtain 78 per
cent loan-to-cash on the cash-flowing portion of the property, excluding the pad site.”
cent loan-to-cash on the cash-flowing portion of the property, excluding the pad site.” Financing for the property was provided by a portfolio lender at a 5.66 percent interest rate. Terms of the loan were five years with a 30-year amortization schedule. The loan-to-value was 67 percent.
“MMCC brought in a new lender that was able to close this transaction within the seller’s timeframe, thus satisfying both parties,” Fite said.
(Photo at bottom right shows a residential property in Cat Hollow, TX for sale at a listed price of $1.189 million.)
CONTACTS:
CONTACTS:
Stacey Corso
Public Relations Manager
Marcus & Millichap
2999 Oak Road
Suite 210
Walnut Creek, CA 94597
Office: 925.953.1716
Mobile: 415.672.6460
Fax: 925.953.1710
Press Contact:
Kathy Molitor
Marcus & Millichap Capital Corporation
(925) 953-1704
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