Marcus & Millichap Capital Corporation Secures $4.95 Million Loan For Olive Tree Apartments In Santee

The Olive Tree Apartments is a multifamily asset located at 8858 Olive Lane in Santee, California, consisting of 26 units. The property was involved in a financing transaction of $4,950,000, structured with a 3-year loan period, secured through a California-based bridge fund, featuring an interest rate of 8.5% and a 65% loan-to-value ratio.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,950,000
• Loan Terms: 3-year
• Units: 26
• Address: 8858 Olive Lane
• Market: Santee
• Interest Rate: 8.5%
• Loan-to-Value: 65%
• Broker: Chad O’Connor - Marcus & Millichap Capital Corporation

Chad O’Connor, representing Marcus & Millichap Capital Corporation, was instrumental in arranging the financing for the acquisition of The Olive Tree Apartments. The transaction unfolded in the Santee market, highlighting the involvement of a bridge fund for securing the loan related to this multifamily investment.