Marcus & Millichap Capital Corporation Secures $10M Refinance For Orange Terrace Apartments

The Orange Terrace Apartments is a 72-unit multifamily property located at 698 Orange Avenue in Long Beach, California. Marcus & Millichap Capital Corporation secured $10 million in refinancing for the property, with a 10-year term, a 5.9% interest rate, and a 50% loan-to-value ratio.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $10,000,000
• Address: 698 Orange Avenue
• Market: Long Beach
• Brokers: Daizy Gomez, Linsey Farrahi & Zack Metzner - Marcus & Millichap Capital Corporation
• Loan Type: Refinance
• Loan Terms: 10-year term with a 5.9% interest rate and 50% LTV

Zack Metzner, Daizy Gomez, and Linsey Farrahi from MMCC's Newport Beach office were instrumental in arranging the financing for the Orange Terrace Apartments. Their efforts focused on highlighting the prime location of the property and negotiating favorable terms for the private investor involved in the transaction.