NEW YORK, N.Y/ – Marcus & Millichap Capital Corporation (MMCC) has arranged a $5 million fixed-rate, nonrecourse loan to refinance a 44-unit apartment building with four retail spaces in the Union Square neighborhood of Manhattan. (top left photo)
Financing for this transaction was provided by a commercial bank at the rate of 5.75 percent. Terms of the loan are for 10 years with a 30-year amortization schedule. Loan to value was 65 percent.
SAN JOSE, CA – Mark One Capital has arranged a $9 million loan for the acquisition of Mobile Manor, (bottom right photo) a 22-acre mobile home community in San Jose.
Marshall De Wolfe, a senior director in the firm’s Palo Alto office, arranged the financing package for the 200-pad mobile home community.