Dan Litman Of Marcus & Millichap Capital Corporation Secures $3.5M Loan For 29-Unit Multifamily In Northridge

The transaction involves a 29-unit multifamily property located at 18521 Dearborn Street in Northridge, CA. The property is known as Dearborn Villa and has undergone refinancing for a total loan amount of $3,500,000. The refinancing was structured as a 7-year, non-recourse loan, which includes 4 years of interest-only payments at a fixed rate of 5.84% and a 30-year amortization, with a loan-to-value ratio of 55%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,500,000
• Loan Terms: 7-year, non-recourse loan
• Interest Rate: 5.84%
• Interest-Only Period: 4 years
• Amortization Period: 30 years
• Loan-to-Value Ratio: 55%
• Broker: Dan Litman - Marcus & Millichap Capital Corporation

Dan Litman represented Marcus & Millichap Capital Corporation in arranging the refinancing for this multifamily property. The refinancing serves to enhance the financial structure of Dearborn Villa, enabling greater flexibility for the property owner.