Marcus & Millichap Capital Corporation (MMCC), a division of Marcus & Millichap (NYSE: MMI), arranged $9.6 million in acquisition financing for Magic Mall Plaza,a flea market style shopping complexlocated at 2155 West Colonial Drive in Orlando, Fla.
Built in 1971 and renovated in 2000, the128,939-square-footcomplexis a popularOrlando retail destination and features multiple retail storesand restaurants, as well as event spaces.
MMCC’s Garrett Fierstein, First Vice President, Capital Markets, based out of the company’s Orlando office,originated the financing on behalf of the borrower.
“The Magic Mall Plaza offers excellent visibility for retailers, with direct frontage on Highway 50 and close to downtown,” said Fierstein. “We are pleased to arrange a 10-year fixed rate loan with a 5.68% interest rate, 75% LTV and 25-year amortization.”
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 2022, MMCC closed 2,143transactions totaling $12.82 billion. To learn more, please visit: marcusmillichap.com/financing