Marcus & Millichap Capital Corporation Secures $3.66 Million Refinance For Multifamily Property In Castroville

A 23-unit multifamily property located at 11320 Sanchez Street in Castroville, CA, was recently refinanced. The loan amount secured for this asset is $3,660,000, with terms set for 5 years through a local credit union. The refinancing includes a 6.06% interest rate and one year of interest-only payments, offering a loan-to-value ratio of 60%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,660,000
• Loan Type: Refinance
• Loan Terms: 5-year
• Units: 23
• Address: 11320 Sanchez Street
• Market: Castroville

Kevin Elliott of Marcus & Millichap Capital Corporation represented the refinancing transaction, successfully securing the loan for the property. The refinancing was structured to align with the asset’s financial requirements, demonstrating Kevin's role in facilitating the deal through the partnership with a local credit union.