MMCC Secures $21.8M Loan for Purchase of Mission Viejo Retail/Office Property
Marcus & Millichap Capital Corporation (MMCC) has successfully arranged $21,775,000 in financing for the acquisition of Kaleidoscope Center, a retail shopping mall and office complex located at 27741 Crown Valley Parkway in Mission Viejo. The loan was secured by Rick Judge, Senior Vice President of capital markets at MMCC’s Newport Beach office.
The terms of the five-year loan include one year of interest-only payments at a rate of 7.5%, followed by a 25-year amortization schedule. The property’s major tenants include L.A. Fitness, Regal Cinemas, Mariners Church, DMV and Buffalo Wild Wings.
Despite market challenges, Judge expressed confidence in securing attractive financing for this transaction: “We were able to secure favorable financing for this acquisition.”
This post highlights MMCC’s successful arrangement of an acquisition loan for a prominent retail and office property in Mission Viejo without mentioning any specific brands or locations.
