Marcus & Millichap Arranges $13.7M Acquisition Loan for Retail Center in Peoria, Illinois

by Kristin Harlow

PEORIA, ILL. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $13.7 million non-recourse loan for the acquisition of an 82,229-square-foot retail center in Peoria. Schnucks grocery store anchors the property with a 20-year lease. Robert Bhat of MMCC arranged the loan that features a 75 percent loan-to-value and two years of interest-only payments followed by a 30-year amortization schedule. Brett Chetek, Chris Garavaglia and Alex Perez of Marcus & Millichap represented the seller and procured the buyer. The sales price was $18.2 million.

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