$9.25 Million Multifamily Property Financing in Miami Beach, FL Structured by Marcus & Millichap Capital Corp.

Eric Fixler

Miami Beach, FL – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged $9.25 million in financing for 250 Collins in Miami Beach, Fla. 

The bridge loan was structured with a floating interest rate over a 24-month term with interest-only payments.

            “MMCC has an existing relationship with the borrower who sought out our services based on our ability to execute complex financing transactions flawlessly,” states Eric Fixler, senior director, MMCC.

            “The barriers to entry for competing short-term rentals creates a unique opportunity for our clients to build a strong footprint and maximize market share. The $620 million renovation and expansion of the Miami Beach Convention Center and recently-renovated Bass Museum of Art will likely result in increased guest demand for quality rooms,” states Austin Levine, associate director, MMCC.

Austin Levine

            “MMCC was able to generate multiple term sheets from the most aggressive lender pool, and harnessed a competitive environment causing lenders to step up several times to win the deal,” continues Levine.

For more information, please contact:

 Ryan Nee

Vice President / Regional Manager, Fort Lauderdale

Marcus & Millichap Capital Corporation

(954) 245-3400