Updated Dec 4, 2024
Marcus & Millichap Capital Secures $2.75M Refinance Loan For San Diego Mixed-Use Property
701 8th Avenue & 721 8th Avenue
$2,750,000
Building Size
—
Asset Type
Mixed-use
Closing
Oct 27, 2023
About this deal
AI
The North of Market property in San Diego has recently undergone renovations and is now the subject of a refinancing deal. The property, located at 701-721 8th Avenue, is a mixed-use asset in the San Diego market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,750,000
- Loan Type: Refinance
- Loan Terms: three-year fixed rate of 7.75% interest-only with an LTV of 65%
Marcus & Millichap Capital Corporation (MMCC), represented by broker Chad O'Connor, secured a $2.75 million refinancing loan for the North of Market property. The loan was obtained to replace an expiring bridge loan. Chad O'Connor, an executive managing director at MMCC's San Diego office, successfully arranged the loan for this recently renovated mixed-used property.
San Diego Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
Loading comparables…
Deal FAQ
Browse San Diego mixed use loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93