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| Sharone Sabar |
LOS ANGELES, CA – Marcus & Millichap Capital Corp.
(MMCC), a leading provider of commercial real estate financing and capital
markets expertise, has arranged $5.4 million of debt for a 16,507-square-foot
retail property in Van Nuys, Calif.
Sharone Sabar, a vice president capital markets in MMCC’s
Encino office, arranged the loan.
“The
borrower’s loan was maturing,” says Sabar. “The property was a multi-tenant retail
center anchored by a church occupying more than 40 percent of the space, which
made it difficult to finance.
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| Van Nuys, CA retail center |
“To add to the challenge, the borrower wanted a high
leveraged loan. MMCC sourced a lender that met the borrower’s needs with a very
competitive interest rate,” concludes Sabar.
The 15-year fixed loan amortizes over 25 years at 4.3 percent with a 65
percent loan-to-value.
For a complete copy of the company’s news release, please
contact:
Gina Relva,
Public Relations Manager
(925) 953-1716
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