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| Charter School, Springville, UT |
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| 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
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