Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $10,630,000 in financing for the acquisition of six multifamily properties in Chicago, Illinois.
Dean Giannakopoulos, Senior Managing Director, Capital Markets, based out of MMCC’s Chicago office, secured the financing.
“In a challenging market we were able to secure $10.6 million in financing for the acquisition of six Chicago multifamily properties, totaling 118 units. Our team was able to facilitate our clients’ value-add investment strategy by leveraging our deep lender relationships to secure attractive short-term, fixed rate financing,” said Giannakopoulos.
The properties are all located in Chicago’s Beverly & Ashburn neighborhoods and include 118 total units. Financing terms include 24 months plus extension options, full term IO and a 75% LTC.