Marcus & Millichap Capital Corp. Arranges $6M Loan for Lake Forest, CA Retail Property

LAKE FOREST, CA– Marcus & Millichap Capital Corporation (MMCC) has
arranged a $6 million fixed-rate, non-recourse loan for the cash-out refinance of a 34,255-square foot One Stop retail property (top right photo) located at 20702-42 Lake Forest Drive in Lake Forest.

Daniel Litman, a senior director in the firm’s West Los Angeles office,
arranged the financing package for the One Stop shopping center.

“About 50 percent of the tenants in the property were automotive-related tenants,” states Litman. “MMCC was able to cash out more than $3 million with a 10-year fixed rate that was 40 basis points better than what the competition had quoted.”

Financing for the property was provided by a portfolio lender at a 6 percent, fixed non-recourse interest rate. The terms of the loan are for 10 years with a 30-year amortization schedule. Loan-to-value for this transaction was 60 percent.

“In the current cycle, investors are coming off of their conduit loans and selecting portfolio lenders because the terms are better,” says Litman. “MMCC was able to save the borrower 40 basis points on the rate. In the end, the lender saved the borrower from paying an additional $26,000.”

Press Contact: Kathy Molitor
Marcus & Millichap Capital Corporation
(925) 953-1704