Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged an $18.5 million loan for the acquisition of a portfolio of industrial properties occupied by G&H Diversified Manufacturing at 11660 and 11670 Brittmoore Park Drive and 11927 Tanner Road in Houston, Texas. The financing was exclusively arranged by MMCC’s Frank Montalto, first vice president, and Dean Giannakopoulos, senior vice president.
“In the midst of the industrial boom, both credit and non-credit tenant assets continue to demonstrate heightened pricing demand,” said Montalto. “As cap rates compress, investors desire long-term, fixed rate, interest-only financing. There is an abundance of capital chasing industrial transactions today. We were able to close this transaction in 28 business days throughout the holiday season.”
The 10-year, 65-percent LTV loan has a 5-year interest only term. The 225,000-square foot property near downtown Houston and major thoroughfares was built in phases, with development taking place most recently in 2019.
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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