MARCUS & MILLICHAP CAPITAL CORPORATION |
Contact: (925) 953-1716 |
MARCUS & MILLICHAP CAPITAL CORP. ARRANGES $1.9 MILLION
IN FINANCING FOR APARTMENT BUILDING
VALLEY VILLAGE, Calif., Feb. 24, 2010 – Marcus & Millichap Capital Corporation (MMCC) has arranged a $1.9 million refinancing loan for a multifamily property in Valley Village.
Adam Petriella, a vice president capital markets in the firm’s West Los Angeles office, arranged the loan for the property.
“The borrower’s circumstances required MMCC’s hands-on involvement with his advisors,” says Petriella. “The borrower took cash out and we were able to close the loan in fewer than 60 days.”
The loan has a loan-to-value of 60 percent and a 6.25 percent interest rate, fixed with no prepay.
Marcus & Millichap Capital Corporation is a subsidiary of Marcus & Millichap Real Estate Investment Services, the nation’s largest brokerage firm focused exclusively on real estate investment services. Through its network of national and regional lenders, MMCC provides capital markets products for a wide variety of investment properties, including apartments, shopping centers, office buildings, industrial facilities, single-tenant net-lease properties, seniors housing, hotels/motels, manufactured home communities and self-storage facilities. Last year, MMCC closed more than 378 transactions in commercial real estate financing.