POMONA, CA-– Marcus & Millichap Capital Corporation (MMCC) has arranged an $8.8 million fixed-rate loan to refinance a 242,000-square foot office building located at 2001 W. Mission Blvd. in Pomona.Adam Petriella, (top right photo) a vice president capital markets for the firm’s West Los Angeles office, arranged the financing package for the Pomona office building.
“MMCC maintained a relationship with the buyer for more than two years,” says Petriella. “The buyer needed a loan that required funding in 30 days. We prepared the financial summaries, solicited financing from 12
different lenders and obtained term sheets within two days.”Financing for this property was provided by a private lender with a European bank partner at a three-year, interest-only fixed-rate debt. Loan-to-value was at 50 percent.
“We’re seeing transactions with quick turnaround times becoming more prevalent in today’s marketplace,” says Petriella. “These are great opportunities for our borrowers and lenders.”
Press Contact: Kathy Molitor 
Marcus & Millichap Capital Corporation
(925) 953-1704
Marcus & Millichap Capital Corporation
(925) 953-1704
No comments:
Post a Comment