PHILADELPHIA, July 15, 2011 – Marcus & Millichap Capital Corporation (MMCC) has arranged $7,040,000 in refinancing for a 24,500-square foot neighborhood shopping center in Philadelphia.James Conley, a director in the firm’s Philadelphia office, arranged the loan.
“MMCC was able to deliver maximum proceeds that were needed to take out the construction debt,” says Conley. “We also provided valuable market information to the lender to help mitigate the high loan dollars per square foot.”
The loan is fixed at 5.5 percent for 10 years. The amortization term is 30 years and the LTV is 72 percent.
Press Contact: Stacey Corso , Marcus & Millichap Capital Corporation
(925) 953-1716
No comments:
Post a Comment