Marcus & Millichap Arranges $50.5M to Refinance Two Multifamily Assets in Southern California
ORANGE COUNTY AND LOS ANGELES, CALIF. — Marcus & Millichap Capital Corp. has secured a total of $50.5 million in capital to refinance two multifamily properties in Southern California.
In the first transaction, the firm arranged $27.5 million to refinance a 136-unit apartment asset in Orange County. The low-leverage loan, 55 percent loan-to-value, was structured with five years of interest-only payments.
For the second transaction, Marcus & Millichap Capital Corp. secured $23 million for the refinancing of a 69-unit multifamily property in Los Angeles. The loan was leveraged at 65 percent and structured with a five-year fixed interest rate.