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Marcus & Millichap Capital Corp. Arranges $13.5M Loan for Refinancing of Iowa Apartment Building

Art Bloc is a newly built apartment building with commercial space that is leased to an architecture firm.

WATERLOO, IOWA — Marcus & Millichap Capital Corp. (MMCC) has arranged a $13.5 million loan for the refinancing of Art Bloc in Waterloo, a city in northeast Iowa. The newly built, six-story building features 67 apartment units and 7,400 square feet of commercial space that is fully leased to an architecture firm. Robert Bhat of MMCC arranged the senior debt financing. The Fannie Mae loan features a 75 percent loan-to-value ratio, a fixed interest rate of 4.75 percent for 10 years, five years of interest-only payments and a 30-year amortization schedule.

Content Partners
‣ Arbor Realty Trust
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‣ Lee & Associates
‣ Lument
‣ NAI Global
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‣ Walker & Dunlop

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