Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $96,025,000 for the refinancing of three multi-tenant retail centers located in North Hollywood, Bakersfield, and Ventura, California.
Zack Metzner, Daizy Gomez, and Linsey Farrahi based out of MMCC’s Newport Beach office secured the balance sheet financing on behalf of a private investor.
“Given the volatility of the financing market, many lenders were pulling back on offering aggressive financing for retail centers,” said Metzner. “We were able to source a competitive loan option that met the refinancing needs of the investor, offering them 65% LTV on a five-year, fixed full-term interest only loan at a below market 5.77% interest rate.”
Major tenants across the properties include 24 Hour Fitness, Dollar Tree, Starbucks, Wells Fargo, Tractor Supply, and several restaurants and grocery stores.
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.
