Marcus & Millichap Capital Corporation Facilitates $3.3M Acquisition Loan For Office Property In New London, CT

The property involved in this transaction is an office building located at 400 Bayonet Street in New London, CT. The property has a total square footage of 35,756. The transaction took place on September 26, 2022.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $3,300,000
• Loan Type: Acquisition loan
• Loan Terms: The 10-year fixed loan has a 4.75 percent interest rate, 30-year amortization, and a 75% LTV.

The broker involved in this transaction is Robert Damigella from Marcus & Millichap Capital Corporation. He represented the buyer in securing a $3,300,000 acquisition loan for the office property. The loan has a 10-year fixed term with a 4.75 percent interest rate and a 30-year amortization period. The loan-to-value ratio is 75%.