TAMPA, FL– Marcus & Millichap Capital Corporation (MMCC) has arranged a $17.5 million fixed-rate loan for the acquisition of three Class B office buildings located at 4801 and 4803 George Rd. (top right photo and bottom left map) in Tampa.James Sotos, an associate in the Chicago office of Marcus & Millichap Capital Corp., arranged the financing package for the 213,294-square foot office complex.
“MMCC structured a minim
al recourse loan for these three assets, which is unusual in the Tampa market,” says Sotos. “Even as the capital markets continue to contract, MMCC was able to secure a lender and provide financing for this property within a tight deadline.” Financing for the Class B office complex was provided by a commercial bank at a 5.87 percent fixed rate. Terms of the loan were five years with a 30-year amortization schedule. The loan-to-value was 74 percent.
Press Contact: Kathy Molitor
Marcus & Millichap Capital Corporation
(925) 953-1704
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