Marcus & Millichap Capital Corp. Arranges $10.6 Million CMBS Refinance for Austin, TX Self-Storage Facility

Michael Laurencelle

AUSTIN, TX – Marcus & Millichap Capital Corporation (MMCC) has arranged a $10.6 million refinance with a CMBS lender for a self-storage facility in Austin.

            Michael Laurencelle, an associate director in MMCC’s Austin office, arranged the loan.

            “The borrower’s net operating income from this property was low for a loan of this size,” says Laurencelle. “Obtaining approval took six months, during which time we worked closely and diligently with an appraiser to demonstrate value.”

David Knobler

 “David Knobler, an associate in Marcus & Millichap Real Estate Investment Services’ Houston office, was instrumental in supplying sales comparables, which helped to raise the appraisal value to an acceptable level,” adds Laurencelle.

            The 10-year loan amortizes over 30 years at 4.54 percent. The loan-to-value is 75 percent.

For a complete copy of the company’s news release, please contact:

Public Relations

(925) 953-1716