Marcus & Millichap Capital Corporation (MMCC) successfully arranged a $16.4 million financing loan for four multifamily properties located in the greater Los Angeles area. Ronald Balys, Senior Vice President of MMCC’s Orange County office, leveraged his strong lender relationships and structural expertise to secure this favorable financing with a 30-year term, 30-year amortization schedule, 50% loan-to-value ratio and 5.42% interest rate.
The four properties included an apartment project with 40 units at 6311–6313 Monterey Road in Montecito Heights; 29 units at 13805–13809 Sherman Way in Los Angeles; 27 units at 8950 Memory Park Avenue in North Hills; and 22 two story units located within Hollywood Hills.
Balys commented on the successful transaction: “It was essential to understand the maturity and terms of existing debt on each property so we could provide our client with a timely solution.” He added that leveraging their lender relationships along with additional team members’ structural expertise enabled them to achieve this very favorable outcome for their clientele base
