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| Starbucks, Bradenton, FL |
MIAMI, FL– Marcus &
Millichap Capital Corp. (MMCC), a leading provider of commercial real estate
financing and capital markets expertise, has arranged permanent financing on
the $12 million acquisition of a portfolio of four single-tenant properties
located in Florida.
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| Robert Bhat |
Included in the portfolio
are Starbucks in Bradenton, Verizon in Naples, City Mattress in Jensen Beach,
and For Eyes in Pembroke Pines.
Robert Bhat,
a director in MMCC’s Miami office, arranged the debt placement.
“This portfolio contains
well-located properties with strong corporate tenants. Despite the challenge of
the tenants having different lease expirations and termination options, some of
which are only three years out, we secured the debt placement below 3.80
percent,” says Bhat.
The $4.5 million
nonrecourse balance sheet loan was secured from a local lender. It was
structured with a 10-year term, seven-year fixed interest rate at 3.75 percent
and a 0.25 percent upfront bank fee.
For a complete copy of the company’s news release,
please contact:
Kirk A. Felici
First Vice
President/Regional Manager; Miami Office
786-522-7000
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