Marcus & Millichap Capital Corp. Arranges $16.5 Million Refinance in New York City

  

46-unit mid-rise apartment building, New York City

Christopher Marks

NEW YORK, NY – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged $16.5 million of debt for a 46-unit mid-rise property in New York City.

            Christopher Marks, an originator in the Manhattan office and Steven Rock, an originator in the firm’s Westchester office, arranged the loan. John Krueger in the Manhattan office represented the borrower.

            “The borrower came to MMCC looking to refinance a newly constructed property,” says Rock. “This proved to be a challenge as it can be difficult to finance properties without an operating history.” MMCC secured a 70 percent loan-to-value, seven-year, fixed rate loan at 3.7%, which amortizes over 25 years.

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

Gina Relva

Public Relations Manager

Marcus & Millichap Capital Corporation

(925) 953-1716