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| Danny Abergel |
ENCINO CA – Marcus & Millichap Capital Corporation
(MMCC) has arranged a loan for a portfolio of San Fernando Valley multifamily
assets valued at $25.8 million.
Danny Abergel, a vice president capital markets in
MMCC’s Encino office, arranged the refinancing, which comprises:
· $11.1
million to refinance a 100-unit multifamily mid-rise property in North
Hollywood
· $9.1
million to refinance a 74-unit multifamily property in Sherman Oaks
· $5.6
million to refinance two 18-unit multifamily properties in Sherman Oaks, at
$2.8 million each
“While values have
risen, interest rates have fallen. With this new loan, we have helped our
clients take advantage of these new lower rates, resulting in a dramatic
reduction in debt costs,” says Abergel.
The loan
was structured with 30-year terms and will amortize over 30 years at an
interest rate of 3.5 percent. The LTV is 75 percent.
For a complete copy of the company’s news release, please
contact:
Marcus & Millichap Capital Corp.
(925) 953-1716
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