SANTA CLARITA, CA – Marcus & Millichap Capital Corporation (MMCC) has arranged a $5 million fixed-rate loan to refinance Wayman Court,(bottom right photo) a shopping center located at 23120-23130 Lyons Ave. in Santa Clarita.Adam Petriella, (top right photo) a vice president capital markets in the firm’s West Los Angeles office, arranged the financing package for Wayman Court.
“The 10-year conduit loan on the property was coming due,” says Petriella. “During the next 24 to 36 months, we see a trend in the market for conduit loans that are coming to maturity such as this one.”
Financing for this transaction was provided by a commercial bank at a 6.25 percent fixed rate. Terms of the loan are for seven years with a 30-year amortization schedule. Loan-to-value was 60 percent. “MMCC added value to the transaction by closing the deal before the deadline to an efficient in-house loan processor,” notes Petriella.
Press Contact: Kathy Molitor, Marcus & Millichap Capital Corporation, (925) 953-1704
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