Marcus & Millichap Capital Corp. Arranges $8.4 Million Refinance for Charter School in Springville, UT

  

Charter School, Springville, UT

Colton Smith

SPRINGVILLE, Utah, Sept. 19, 2013 – Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged $8.4 million of debt for a 49,928-square-foot charter school.

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

            “We recently closed a loan for another charter school in the same market at very favorable rates and terms,” says Smith. “I contacted one of my clients to inform him of that closing and he decided to increase his net cash flow by reducing the annual debt service on a similar asset,” adds Smith.

“The knowledge we gained during the first charter school financing gave our client an edge in the next transaction.”

            The five-year loan amortizes over 25 years at 4.1 percent, with 70 percent loan-to-va

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

Gina Relva

 Public Relations Manager

Marcus & Millichap Capital Corporation

(925) 953-1716