Marcus & Millichap Capital Corporation Secures $3M Loan For Multifamily Construction In Los Angeles

A construction loan has been secured for a multifamily property located at 728 Robinson Street in Los Angeles. The loan amount is $3,000,000 with a loan-to-cost ratio of 80%. The financing is characterized by a 9% interest rate and a 7.75% floor rate.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,000,000
• Loan Type: Construction
• Loan-to-Cost Ratio: 80%
• Interest Rate: 9%
• Floor Rate: 7.75%

Bradley Buzil from Marcus & Millichap Capital Corporation was the broker responsible for securing the financing for this construction project. The loan offers favorable terms in light of expectations for future rate cuts.