Marcus & Millichap Capital Corp. Arranges $5.2 Million Charter School Refinance

                 

Colton Smith

 SALT LAKE CITY, UT– Marcus & Millichap Capital Corporation (MMCC) has arranged a $5.2 million loan to refinance a charter school located in Salt Lake City.

            Colton Smith, an associate director in MMCC’s Salt Lake City office, arranged the loan.

            “Lenders tend to be stymied with regard to charter schools, as this is an unusual and often challenging investment category,” says Smith. “Operations and enrollment are government-funded, financial standing is complex and ongoing demand is difficult to predict, though the market is currently seeing an uptick in charter school financing.”

“Through the power of MMCC’s platform,” adds Smith, “we located a lender who understood the intricacies of the charter school business. We completed the transaction and the borrower fulfilled the dual goals of increasing net cash flow with a lower permanent rate and extending the previous loan’s maturity date.”

            The five-year loan amortizes over 25 years at 4.25 percent. The LTV is 66 percent.

  

Press Contact:

Ben Johnson

Marketing Director

Marcus & Millichap Capital Corporation

(925) 953-1736