Press Releases
Marcus & Millichap Capital Corporation Arranges $96 Million Refinancing for Three Southern California Retail Centers
March 01, 2024
LOS ANGELES, March 1, 2024 – Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $96,025,000 for the refinancing of three multi-tenant retail centers located in North Hollywood, Bakersfield, and Ventura, California.
Zack Metzner, Daizy Gomez, and Linsey Farrahi based in MMCC’s Newport Beach office secured the balance sheet financing on behalf of a private investor.
“Given the volatility of the financing market, many lenders were pulling back on offering aggressive financing for retail centers,” said Metzner. “We were able to source a competitive loan option that met the refinancing needs of the investor, offering them 65% loan-to-value on a five-year, fixed full-term interest-only loan at a below-market 5.77% interest rate.”
Major tenants across the properties include 24 Hour Fitness, Dollar Tree, Starbucks, Wells Fargo, Tractor Supply, and several restaurants and grocery stores.
Zack Metzner, Daizy Gomez, and Linsey Farrahi based in MMCC’s Newport Beach office secured the balance sheet financing on behalf of a private investor.
“Given the volatility of the financing market, many lenders were pulling back on offering aggressive financing for retail centers,” said Metzner. “We were able to source a competitive loan option that met the refinancing needs of the investor, offering them 65% loan-to-value on a five-year, fixed full-term interest-only loan at a below-market 5.77% interest rate.”
Major tenants across the properties include 24 Hour Fitness, Dollar Tree, Starbucks, Wells Fargo, Tractor Supply, and several restaurants and grocery stores.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2023, the company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
