ALBANY, OR– Marcus & Millichap Capital Corporation (MMCC) has arranged a $5.4 million loan to refinance Albany Meadows Apartments, (top left photo) a 127- unit garden-style multifamily apartment building in Albany.
Bradley Willson, a director in the firm’s Newport Beach office, arranged the financing for the building.
“We have a longstanding relationship with the lender and they were willing to take the time to understand the nuances of this transaction and move forward when perhaps other lenders would not have,” says Willson. “The fully renovated property is just beginning to demonstrate stabilized operations. By engaging in negotiations prior to the application and during the loan process, we are able to achieve the goals of the borrower and satisfy the lender.”
The loan, a refinancing of a construction/bridge loan, is a 10-year fixed-rate loan with a 30-year amortization, a loan-to-value of 77.5 percent and a 5.58 percent interest rate.
Press Contact: Stacey Corso, Marcus & Millichap Capital Corporation, (925) 953-1716
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