Marcus & Millichap Capital Corporation (MMCC) has arranged a $3.25 million refinancing for The Pines and Monvil Apartments, located in West Palm Beach and Palm Springs, Florida respectively. First Vice Presidents of MMCC’s Ft. Lauderdale office Steve Goldwyn and David Purisch secured the financing despite the challenging property insurance environment in South Florida.
Goldwyn noted that they were able to identify a life insurance company with no deposit covenants or windstorm coverage requirements, resulting in an attractive long-term fixed rate loan with a 5.75% interest rate over 25 years amortization period for their clients’ benefit. This demonstrates the power of MMCC’s platform to deliver superior results on behalf of its customers even under difficult circumstances
