MMCC, a leading capital corporation in the real estate industry, has successfully arranged $23 million in agency financing for the acquisition of a 310-unit multifamily property located in Dallas. Spearheaded by Ralph Rader and his team at MMCC Capital Markets, this deal was made possible through a partnership led by Granite Towers Equity Group (GTEG). The financing package includes an attractive fixed rate of 1.86% over the course of 10 years with five years of interest-only payments followed by a 30-year amortization schedule and a term length of ten years.
Situated near Bachman Lake, Maravilla is an impressive community that underwent significant interior and exterior renovations totaling over $3.3 million back in 2018 under its previous ownership. At present time, this highly sought-after property boasts an occupancy rate of nearly full capacity at 99%. With amenities such as onsite clubhouse facilities, enclosed soccer field access for residents to enjoy outdoor activities safely during their leisure time along with picnic areas equipped with grills for BBQs or gatherings among friends & family members; pet park area designated specifically to cater towards furry companions; multiple swimming pools available throughout different sections within the complex grounds so everyone can find their favorite spot to cool off during hot summer days; playgrounds designed especially keeping children’s safety & entertainment needs into consideration while also providing laundry services on-site making it convenient for tenants’ daily living needs.
The news about MMCC securing $23M funding towards GTEG’s purchase marks another milestone achieved within our company’s history as we continue striving forward towards excellence without compromising quality service delivery standards set forth since inception!
