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FORT MILL, S.C. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $6.5 million loan for the refinancing of Society Lane Industrial Park in Fort Mill, a South Carolina suburb of Charlotte. The 11-building property was fully leased at the time of financing to 13 tenants.
Duke Dennis of MMCC’s Dallas office arranged the five-year loan through an undisclosed bank on behalf of the owner, Phoenix Industrial Redevelopment. The loan was structured at 250 basis points above the 5-year Treasury yield, with a 25-year amortization schedule and stepdown prepayment options.