Marcus & Millichap Capital Corp Arranges $96M Refinance Loan For SoCal Shopping Centers
$96,000,000
Building Size
—
Asset Type
Retail
Closing
Feb 28, 2024
AI
The Retail Portfolio in Bakersfield, North Hollywood, and Ventura has successfully secured a $96 million loan for a refinance. The loan, facilitated by Marcus & Millichap Capital Corp, features a fixed interest rate of 5.8 percent for five years. The three Southern California shopping centers are the subjects of this refinancing deal.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $96,000,000
- Address: Bakersfield, North Hollywood & Ventura
- Market: Southern California
- Loan Type: Refinance
- Loan Terms: Five-year, interest-only loan at 5.8% fixed interest rate
- Brokers: Daizy Gomez, Linsey Farrahi & Zack Metzner - Marcus & Millichap Capital Corp
Zack Metzner, Daizy Gomez, and Linsey Farrahi from MMCC are the brokers responsible for arranging the $96 million loan for the refinance of the three shopping centers. Their efforts have successfully secured the fixed interest rate loan for a private investor, marking a significant financial transaction in the retail sector.
Players
Market Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93