 |
| Sharone Sabar |
SANTA MONICA, CA– Marcus & Millichap Capital Corp.
(MMCC), a leading provider of commercial real estate financing and capital
markets expertise, has arranged $6,465,000 in financing for the purchase of a
20,612-square-foot multifamily property in Santa Monica.
Sharone Sabar, vice president capital markets in
Marcus & Millichap’s Encino office, arranged financing for the loan.
“The
property is a rent-controlled multifamily asset with a low cap rate and a high
GRM,” says Sabar. “Most capital sources would provide debt up to 40 percent
loan to value but the borrower was looking for more than that. MMCC sourced a
lender that was comfortable with pro forma rents and provided a loan-to-value
of 67 percent.”
The
five-year loan amortizes over 30 years and is fixed at 4.75 percent.
For a complete copy of the company’s news release, please
contact:
Gina Relva
Public Relations Manager
(925) 953-1716
No comments:
Post a Comment