Marcus & Millichap Capital Corporation Facilitates 15-Year Loan Of $3.53M For Oakland Multifamily

The asset involved in the transaction is a multifamily property consisting of 32 units located at 301 Lenox Avenue in Oakland, CA. The acquisition financing for this property was arranged for a total loan amount of $3,530,000, which includes a 15-year loan with an interest rate of 5.9% fixed for the first five years, a 30-year amortization period, and a loan-to-value ratio of 60%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,530,000
• Address: 301 Lenox Avenue
• Market: Oakland
• Units: 32
• Loan Type: Acquisition
• Loan Terms: 15-year loan, 5.9% interest for first five years, 30-year amortization, 60% loan-to-value
• Broker: David Campbell - Marcus & Millichap Capital Corporation

David Campbell from Marcus & Millichap Capital Corporation represented the financing arrangement for the acquisition deal. The loan is designated for a local investor looking to acquire the 32-unit Lenox Lake Apartments.