Marcus & Millichap Capital Corp. Arranges $8 Million in Refinancing for Class A Office Property in Arizona

  

                  Class A Office Property, Rio Rico, AZ

RIO RICO, AZ– Marcus & Millichap Capital Corporation (MMCC) has arranged an $8 million refinance for Class A office property in Rio Rico, Ariz.

Chad O'Connor

            Chad O’Connor, a vice president capital markets in MMCC’s San Diego office, arranged the loan.

            “This transaction was a refinance from short-term to long-term fixed-rate debt with cash out for another project,” says O’Connor. “In a tertiary market, we were able to provide a fully amortized 18-year fixed term even though the tenant’s lease is set to expire in 15 years.”

            The interest rate is 4.35 percent and LTV is 70 percent.

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

Ben Johnson

Marketing Director

(925) 953-1736