Marcus & Millichap Arranges $9.2M Loan for Refinancing of Iowa Apartment Community

by Kristin Harlow

CEDAR FALLS, IOWA — Marcus & Millichap Capital Corp. (MMCC) has arranged a $9.2 million Fannie Mae loan for the refinancing of Arabella Apartments in Cedar Falls, just north of Waterloo. The property consists of 50 units and 6,800 square feet of ground-floor retail space. Amenities include a rooftop patio, dog park and community garden. Robert Bhat of MMCC arranged the 10-year loan, which features a fixed interest rate of 3.75 percent, a 30-year amortization schedule and a 75 percent loan-to-value ratio.

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