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MMCC ARRANGES $5.3M MULTIFAMILY CONSTRUCTION LOAN

PHILADELPHIA — Marcus & Millichap Capital Corp. (MMCC) has arranged $5.3 million in construction financing for a 40-unit apartment project in Philadelphia. Kristopher Wood and John Banas, both directors in MMCC’s Philadelphia office, arranged the five-year loan at a fixed interest rate of 4.7 percent. The loan features a 25-year amortization schedule. The financing represents 80 percent of the total cost of the project.

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