Marcus & Millichap Facilitates $12.5M Refinance For Medical Office In Mission Viejo

The medical office building at La Paz Plaza in Mission Viejo, CA, was the subject of a $12.5 million refinancing deal. The loan, facilitated by Marcus & Millichap Capital Corporation (MMCC), featured a fixed interest rate of 6.52% for 5 years and a 30-year amortization schedule, with no prepayment penalty.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $12,500,000
• Address: 26137 La Paz Road
• Market: Mission Viejo
• Brokers: Michael Derk & Paul Bitonti - Marcus & Millichap
• Loan Type: Refinance
• Loan Terms: Fixed interest rate of 6.52% for 5 years and a 30-year amortization schedule, with no prepayment penalty

The refinancing deal at La Paz Plaza involved extensive negotiations with over 43 lenders led by Michael Derk and Paul Bitonti from Marcus & Millichap, demonstrating MMCC's market approach and negotiation skills in securing favorable terms for the medical office building.