Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged a $6.6 million acquisition loan for a retail portfolio in Orland Park, a Chicago suburb.
This newly constructed20,732-square-foot net leased portfolio is located at 15071 South La Grange Road and includes numerous restaurant tenants such as Chipotle, PaneraBread, Smashburger, Raising Cane’s and BJ’s Brewhouse.
Dean Giannakopoulos, Senior Managing Director Capital Markets, Frank Montalto, Managing Director Capital Markets, and Matthew Smego, Senior Analyst with the Marcus & Millichap Chicago office secured the financing on behalf of the borrower. In addition, Sean Sharkoand Austin Weisenbeck, both Senior Managing Directors Investments with the Marcus & Millichap Chicago Oak Brook office, advised on the transaction.
“We were able to secure an attractive 10-year fixed-rate,non-recourse loan at an interest rate of 4.65 percent to satisfy the buyer’s 1031 exchange,” noted Mr. Giannakopoulos. “The lender locked and held rate during this volatile interestrate market, and executed under the terms of the applicationas applied. It was also invaluable to work hand in hand with the Marcus & Millichap investment sales team based out of the Oak Brook officeto deliver superior results for the client.”
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. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2021, MMCC closed 2,474 transactions totaling $11.6 billion. To learn more, please visit: marcusmillichap.com/financing