LOS ANGELES, May 8, 2015 – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged $11 million in financing for a 75,000-square-foot medical office building in Los Angeles.
Sharone Sabar, first vice president capital markets in MMCC’s Encino office, arranged the debt placement.
“The borrower’s loan was maturing during a time of historically low vacancy for the property,” says Sabar. “MMCC arranged a 15-year fixed-rate loan with no prepayment penalty that completely satisfied our client’s financial requirements.”
The refinancing was structured with a 4.25 percent fixed interest rate. The loan-to-value is 70 percent.
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