Plainville, CT., Aug. 25, 2011 – Marcus & Millichap Capital Corporation (MMCC) has arranged a $1,500,000 fixed rate loan for the purchase of 94 West Main Street (top left photo) in Plainville, Connecticut.
Sean Mooney (top right photo) – Associate Director and Chris Marks (lower left photo) – Associate, at the firm’s Manhattan office, arranged the financing.
The financing for this transaction was provided by Sovereign Bank. Terms of the loan are 10-years fixed; the interest rate is at 5.07 percent with a 30-year amortization schedule. Loan to value was 75 percent.
“Most loans are taking over 60 days to close, but the lender helped expedite the process where we were able to close the loan in 43 business days,” says Mooney.
Press Contact: J.D. Parker, Vice-President and Regional Manager, New Haven, (203) 672-3300
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