Marcus & Millichap Capital Corporation (MMCC) arranged a $16.4 million financing loan for four multifamily properties in the greater Los Angeles area. SVP Ronald Balys of MMCC’s Orange County office secured the loan, which includes a 40-unit apartment project located at 6311-6313 Monterey Rd., Montecito Heights; a 29-unit building at 13805-13809 Sherman Way in Los Angeles; a 27-unit building located at 8950 Memory Park Avenue in North Hills; and 22 units over two stories situated within Hollywood Hills.
Balys noted that it was essential to understand the maturity and terms of existing debt on each property to provide an expedient solution for their client: “We leveraged our strong lender relationships and structural expertise from additional MMCC team members to secure this very favorable financing.” The terms include 30 years, 30 year amortization, 50% LTV, with an interest rate of 5.42%.
