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Marcus & Millichap Capital Secures $4.58M Loan For Retail Property Acquisition In Fremont

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FINANCED
$4,582,500

California

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Retail
Financed 07/25/2023
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Property Image
FINANCED

Marcus & Millichap Capital Secures $4.58M Loan For Retail Property Acquisition In Fremont

39401 Fremont Blvd Fremont, CA 94538, USA

See Similar Deals
Retail
Financed 07/25/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Retail
Transaction Type:Loan

Marcus & Millichap Capital Corporation (MMCC) secured a $4.58 million acquisition loan for the purchase of a retail property in Fremont, California. The property, located at 39401 Fremont Boulevard, houses Red Lobster and is situated in the Fremont market.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $4,582,500
  • Loan Type: Acquisition Loan
  • Loan Terms: The 10-year loan includes a 5-year Constant Maturity Treasury (CMT) rate with a spread of 2.5% and a 5.55% interest rate. The loan is followed by a 30-year amortization period and has a loan-to-value (LTV) ratio of 65%.

Ron Balys, representing Marcus & Millichap Capital Corporation, served as the broker for this transaction. The loan features favorable terms, offering a 5-year CMT rate with a spread of 2.5% and a 5.55% interest rate. The loan is structured with a 30-year amortization period and a loan-to-value (LTV) ratio of 65%. This acquisition loan facilitated the purchase of the retail property in Fremont.

Players

Ron Balys
Marcus & Millichap
Ron Balys
14 deals$177.9M volume
BROKER

Details

FINANCED
IMAGE: Ron Balys DATE: 07/25/2023 ADDRESS: 39401 Fremont Boulevard MARKET: Fremont ASSET TYPE: Retail BROKER: Ron Balys - Marcus & Millichap Capital Corporation LOAN AMOUNT: $4,582,500 LOAN TYPE: Acquisition Loan LOAN TERMS: 10-year loan include a 5-year CMT with a spread of 2.5% and a 5.55% interest rate, followed by 30-years amortization and a 65% LTV NOTE: Marcus & Millichap Capital Corporation (MMCC) secured a $4.58 million acquisition loan for the purchase of a retail property in Fremont, California, housing Red Lobster. The 10-year loan offers favorable terms, including a 5-year CMT with a 2.5% spread and a 5.55% interest rate, followed by a 30-year amortization and a 65% loan-to-value ratio.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$4,582,500.00

Monthly NOI$30,550.00
Monthly Debt Service$28,964.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00