Marcus & Millichap Arranges $3.6M Refinancing for Apartment Property in Iowa
WAVERLY, IOWA — Marcus & Millichap Capital Corp. has arranged a $3.6 million non-recourse loan for the refinancing of Legacy Apartments in Waverly in northeastern Iowa. The 34-unit apartment property was newly constructed. The loan features a 15-year term, 30-year amortization schedule and a fixed rate of 4.52 percent. The borrower was a development group.