MMCC, a Marcus & Millichap Capital Corporation, arranged $10.63 million in financing for the acquisition of six multifamily properties located on Chicago’s South Side. The properties are situated in the Beverly and Ashburn neighborhoods and total 118 units. Dean Giannakopoulos, Senior Managing Director of Capital Markets based out of MMCC’s Chicago office secured this financing despite challenging market conditions.
Giannakopoulos commented: “Our team was able to facilitate our clients’ value-add investment strategy by leveraging our deep lender relationships to secure attractive short-term fixed rate financing.” Financing terms include 24 months plus extension options with full term interest only payments and a 75% loan-to-value ratio (LTV).
