Glendale Multifamily Refinanced by MMCC

MMCC, a real estate capital corporation, recently facilitated the refinancing of Palmer Villas in Glendale for $5.2 million. The property, which consists of 18 three-bedroom units and is situated at 817 E Palmer Ave., was refinanced through a national bank on behalf of a private property management company based in Los Angeles. Dan Litman, senior managing director at MMCC’s Los Angeles office, negotiated the terms of the loan which include a 30-year term with 30-year amortization and a loan-to-value ratio of 50%. Located just seven miles north from Downtown Los Angeles, this multifamily property offers convenient access to city amenities while providing spacious living accommodations for its residents.