Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged an $8,255,100 loan for the refinancing of Brookside Commerce, an assisted living facility located at 199 West W Gary Road in Commerce, Ga.
The refinancing was secured by Robert Bhat, Senior Managing Director, Capital Markets, based out of the MMCC Miami office.
“Brookside Commerce was acquired in September 2019,” said Mr. Bhat. “We were able to secure a 35-year HUD loan to refinance the asset and provide cash-out to the borrower. Terms include a 35 year fully amortizing loan and an interest rate of 5.10%.”
The 62-bed assisted living facility includes 12 independent living units. It is conveniently located near I-85 and US-441, and is approximately 3.5 miles from Northridge Medical Center, a full-service community hospital.
