Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged more than $9.2 million in financing for the Arabella Apartments in Cedar Falls, Iowa. The transaction was led by Robert Bhat, Senior Vice President, Capital Markets.
The 10-year fixed Fannie Mae loan, which will refinance the property, was structured with a competitive interest rate of 3.75 percent, 75-percent LTV and a 30-year amortization. Located at 200 West 1st Street, the Arabella Apartments are a mixed-use multifamily property comprising 50 apartment units and 6,800 square feet of leased ground-floor retail space.
“Well-located with leased retail space, the advantageous loan terms are indicative of high housing demand in tertiary urban markets,” said Bhat. “Lender appetite is high for multifamily-oriented properties that are walkable from central business districts and attractions.
The property is well-situated in the downtown district of Cedar Falls, overlooking the Cedar River. The amenitized apartment community offers a rooftop patio, dog park and community garden.
About Marcus & Millichap Capital Corporation
Mission Capital Debt & Equity Finance (MCDE) has arranged over $9 billion of financing in the last ten years. MCDE is now a part of Marcus & Millichap Capital Corporation (MMCC). https://www.missioncap.com/debt-equity/
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: https://www.missioncap.com/debt-equity/
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