Wednesday, August 22, 2012

Marcus & Millichap Capital Corp. Arranges $10.3 Million in Refinancing for Multifamily Asset


SEASIDE, CA– Marcus & Millichap Capital Corporation (MMCC) has arranged $10,312,500 in refinancing for a 121-unit multifamily property.

            David Campbell (lower right photo), an associate director in MMCC’s Palo Alto office, arranged the loan.

            “The client was looking for a competitive rate,” says Campbell. “While other lenders were quoting lower loan amounts with higher rates, we delivered cash-out financing in a smaller market, at a great rate.”


            “This loan demonstrates the demand for multifamily loans and the competitive lending environment that exists for these loans,” adds Campbell. “The amount of leverage we achieved in a smaller market, with cash-out is impressive.”

            The loan was structured with a 10-year term and amortizes over 30 years with an interest rate of 4.07 percent. The LTV is 75 percent.

Press Contact:

Stacey Corso
Marcus & Millichap Capital Corporation
(925) 953-1716

No comments:

Post a Comment