Marcus & Millichap Capital Corp. Arranges $12.5 Million Retail Community Refinance with CMBS Lender

Peter Dunn

HOUSTON, Jan. 9, 2012 – Marcus & Millichap Capital Corporation (MMCC) has refinanced $12.5 million in debt for the Westchase Shopping Center, a retail neighborhood property in Houston.

            Peter Dunn, a senior director in the firm’s Houston office, arranged the loan.

            “MMCC helped this client close a sister property earlier this year, so there was already a familiarity with our network and the quality of our work,” says Dunn. “In the current low-interest rate environment, it made sense for this client to leverage a premier shopping center like Westchase, in order to achieve a cash-out earmarked for new acquisitions.”  

Westchase Shopping Center, Houston, TX

“The commercial mortgage-backed securities market continues to thaw in general, with more lenders entering the market and more transactions offering a greater degree of both risk and upside,” Dunn concludes.

            The 10-year loan amortizes over 30 years at 4.9 percent. The LTV (loan-to-value) is 75 percent.

Press Contact:

Marcus & Millichap Capital Corporation

(925) 953-1716