Marcus & Millichap Capital Corp. Arranges $11.5 Million Self-Storage Portfolion Loan

    

AUSTIN, TX – Marcus & Millichap Capital Corporation (MMCC) has arranged refinancing on a six-property, 2,109-unit self-storage portfolio located across the state of Texas. The loan totals $11.5 million. 

Michael Laurencelle (top right photo), an associate director in MMCC’s Austin office, who has an extensive background in self-storage financing, understood the concerns of the borrowers and identified the right capital source by utilizing the firm’s platform.

“The challenge was to secure a non-recourse loan without a lock box and cash-sweep management mechanism while securing a 10-year loan with a 30-year amortization schedule at a fixed rate of 5.41,” Laurencelle says.

MMCC’s ability to leverage existing relationships with the lenders in the self-storage sector was the key to completing this transaction.

 Contact: Stacey Corso,  Public Relations Manager, (925) 953-1716