Marcus & Millichap Capital Corporation , a leading provider of commercial real estate capital markets financing solutions, arranged a $15.043 million loan for the refinancing of Santa Fe Townhomes, a multifamily property located at 1470 S Santa Fe Avenue in Vista, California.
Chad O’Connor, executive managing director, capital markets, based out of MMCC’s San Diego office, secured the financing.
“The location of this newly constructed apartment complex in the heart of Vista makes it an incredibly attractive asset. This loan retires a construction loan we secured for our client two years ago and allows them to cash out to pursue other opportunities. We were able to secure highly favorable terms for the client, including a non-recourse, five-year fixed interest rate loan of 5.9% and a 65% loan-to-value,” said O’Connor.
Constructed in 2022, the 45 townhomes each consist of two stories. All units have two bedrooms, two-and-a-half bathrooms, and a two-car garage. The property is located minutes to Highway 78, and 15 minutes from Carlsbad and Oceanside beach cities. Downtown Vista is a short drive away, providing easy access to restaurants, breweries, art galleries, shops, events, and family activities.
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 2,143 transactions totaling $12.82 billion. To learn more, please visit: marcusmillichap.com/financing.