MARCUS & MILLICHAP ARRANGES $6.9M IN STUDENT HOUSING FINANCING

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HARRISBURG, PA. — Marcus & Millichap Capital Corp. has arranged a $6.9 million loan for a six-property student housing portfolio. The portfolio contains a number of newly constructed and recently stabilized buildings across Kutztown University and Penn State's University Harrisburg campus. The owner wanted to free up some equity to buy out a partner. John Banas and Kris Wood of Marcus & Milichap arranged the 10-year loans, which amortize over 30 years at an interest rate of 4.25 percent.

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