**MMCC Arranges $9.4M Financing for Los Angeles Retail Property**
Marcus & Millichap Capital Corporation (MMCC) has successfully arranged $9.4 million in financing for a retail property located at 420 South Alvarado Street in Los Angeles. The property is currently occupied by Ross Dress for Less.
Bradley Buzil, senior director in MMCC’s Los Angeles office, secured the loan on behalf of a private client through a national bank.
“The borrower faced an impending loan maturity and successfully secured fixed-rate financing with a 10-year term,” said Buzil. “The non-recourse structure features full-term interest-only payments, enhancing cash flow while locking in a fixed cost of capital for the sponsorship.”
Key terms of the loan include:
– 10-year term
– Non-recourse structure
– Fixed interest rate of 6.57%
– 65% loan-to-value ratio
– Full-term interest-only payments
This financing arrangement reflects MMCC’s continued commitment to securing advantageous lending solutions for its clients in competitive markets like Los Angeles.
