Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged $10.85 million in financing for the acquisition of Kona Ice Corporate Headquarters at 5945 Centennial Circle in Florence, Kentucky. The financing was exclusively arranged by MMCC’s Dean Giannakopoulos, senior vice president, and Frank Montalto, first vice president.
“Our client engaged us to secure long-term, fixed-rate financing,” said Giannakopoulos. “After a competitive bid process, we transacted with a national lender that was the most strategic fit for this secure, long-term net leased asset.”
The 10-year, 70-percent LTV loan has a three-year interest-only term. The 93,470-square foot property is the global headquarters for Kona Ice Corp., the largest mobile food and beverage franchise owners with more than 1,300 franchises in 48 states and three countries. The property is well-located near I-7 and Cincinnati/Northern Kentucky International Airport, as well as directly across the street from a newly constructed, $1.5 billion Amazon Air Hub.
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 2020, MMCC closed 1,943 transactions totaling $7.67 billion.
To learn more, please visit: www.marcusmillichap.com/financing.
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