$35.8 Million Apartment Property Refinancing Structured by Marcus & Millichap Capital Corp.
August 16 2017 - 3:07PM
Business Wire
Marcus & Millichap (NYSE: MMI) today announced that its
financing subsidiary, Marcus & Millichap Capital Corp. (MMCC),
has arranged $35.8 million in refinancing for Aurora Apartments in
Charlotte, North Carolina. The loan was structured with an
adjustable interest rate over a seven-year term amortized over 30
years.
“MMCC has an existing relationship with the borrower who sought
our services based on our reputation as a low-cost provider and our
ability to execute complex financing transactions flawlessly,” said
Richard Katzenstein, senior vice president and national director,
MMCC. “Leveraging our partnership with PGIM Real Estate Finance, we
were able to provide a low-cost capital solution with attractive
terms well beyond what the borrower was able to find elsewhere in
the marketplace. In addition, MMCC’s execution of the loan was one
the best the client had experienced.”
“This transaction highlights how our proprietary preferred
correspondent agreement with PGIM Real Estate Finance along with
MMCC’s extensive range of lenders bolsters our ability to provide
the most comprehensive set of financing solutions to the benefit of
our clients,” added William E. Hughes, senior vice president and
head of Marcus & Millichap Capital Corp.
About Marcus & Millichap (NYSE: MMI)
With over 1,700 investment sales and financing professionals
located throughout the United States and Canada, Marcus &
Millichap is a leading specialist in commercial real estate
investment sales, financing, research and advisory services.
Founded in 1971, the firm closed nearly 9,000 transactions in 2016
with a value of approximately $42.3 billion. The company has
perfected a powerful system for marketing properties that combines
investment specialization, local market expertise, the industry’s
most comprehensive research, state-of-the-art technology, and
relationships with the largest pool of qualified investors. To
learn more, please visit: www.MarcusMillichap.com
About Marcus & Millichap Capital Corporation
Marcus & Millichap Capital Corporation (MMCC) is a
subsidiary of Marcus & Millichap (NYSE: MMI), a leading
commercial real estate investment services firm with offices
throughout the United States and Canada. Through its network of
national, regional and local lenders, MMCC provides capital markets
products for a wide variety of investment properties, including
apartments, shopping centers, office buildings, industrial
facilities, single-tenant net-lease properties, seniors housing,
hotels/motels, manufactured home communities and self-storage
facilities. In 2016, MMCC closed over 1,650 commercial real estate
financing transactions. To learn more, please visit:
www.mmCapCorp.com
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Marcus & MillichapGina Relva, 925-953-1716Public
Relations Director
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