Marcus & Millichap Capital Corporation (MMCC) arranged a $3.55 million loan for the construction of a multifamily property located at 7717 45th Avenue NE in Seattle, Washington. Tammy Linden, first vice president of capital markets based out of MMCC’s Seattle office secured the financing to provide funds needed for development. Despite challenging market conditions, this well-located property with strong sponsorship generated significant interest and was able to secure terms including 12% fixed interest rate and 65% Loan-to-Cost (LTC).
MMMCC is a subsidiary of Marcus & Millichap that provides commercial real estate capital markets financing solutions such as debt, mezzanine financing, preferred equity joint venture equity sponsor equity loan sales and consultative/due diligence services. In 2022 alone it closed 2143 transactions totaling $12.82 billion dollars in funding across all its services nationwide .
