Marcus & Millichap Capital Corp., a provider of commercial real estate financing, has arranged a total of $50.5 million in capital to refinance two multifamily properties in Southern California.
The first transaction, in the amount of $27.5 million, refinanced a 136-unit asset in Orange County, Calif. The low-leverage loan — 55 percent loan-to-value — was structured with five years of interest-only payments. The second transaction, in the amount of $23 million, refinanced a 69-unit property in Los Angeles. This loan was leveraged at 65 percent and structured with a five-year fixed-rate of interest.
“Financing for apartment assets remains widely available, with capital providers that include agency lenders; an extensive array of local, regional and national banks; and insurance companies,” said Sharone Sabar, seni
