Marcus & Millichap Capital Refinances 46-Unit Multifamily Property In Valley Village For $12.1M

The Laurel Canyon Apartments, a 46-unit multifamily property located at 5501-5513 Laurel Canyon Boulevard in Valley Village, California, secured $12.1 million in refinancing. The loan terms include a five-year period with one year of interest-only payments, followed by a 30-year amortization schedule. The loan-to-value (LTV) ratio for this transaction is 54%.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $12,100,000
• Address: 5501-5513 Laurel Canyon Boulevard
• Market: Valley Village

Bradley Buzil of Marcus & Millichap Capital Corporation facilitated the refinancing deal for the Laurel Canyon Apartments. The financing arranged by MMCC allowed for a seamless transition to a fixed-rate loan, avoiding the usual seasoning requirements and lowering the borrower's cost of capital.