FORESTREAM CENTER REFINANCED IN N.Y.
LANCASTER, N.Y. — Marcus & Millichap Capital Corp.(MMCC) has arranged $3.9 million in non-recourse financing for Forestream Center, a 68,100-square-foot mixed-use property located in Lancaster. The property features 29 apartments. The loan carries a 10-year term, a 6 percent fixed interest rate and a 72 percent loan-to-value ratio. The lender was an insurance company. Gerald Kray of MMCC's Manhattan office arranged the deal.