VAN NUYS, California – Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged $9.9 million in financing for a 52-unit multifamily property located at 13907 Oxnard Street in Van Nuys, California. Built in 1964, the two-story property includes 44,342 square feet and a mix of unit sizes. The financing was secured by Ronald J. Balys, first vice president, based out of MMCC’s Los Angeles office.
“This was a very competitive deal to win. We competed with direct lenders alongside other top brokerage teams,” said Balys. “Ultimately, we were able to find a product that checked all the buyer’s boxes which offered higher leverage, lower cost, lower rate and certainty of closure.”
The three-year, interest-only term includes a two-year extension and has an LTV of 68% and an interest rate of 4%. The property includes amenities such as a communal swimming pool, controlled access, a recreation room, on-site laundry and is within driving distance of major highways and airports.
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 2021, MMCC closed 2,474 transactions totaling $11.6 billion. To learn more, please visit: marcusmillichap.com/financing
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