Marcus & Millichap Capital Arranges $3.25M Refinancing For West Palm Beach & Palm Springs Multifamily

Marcus & Millichap Capital arranged a $3.25 million refinancing for The Pines and Monvil Apartments in West Palm Beach and Palm Springs, Florida. This multifamily property transaction involved two addresses: 4605 Georgia Pines Drive and 3864 Coconut Road. The loan was secured to refinance the properties, providing favorable terms despite insurance challenges. The 25-year loan includes a 5.75% interest rate and a 25-year amortization.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,250,000
• Addresses: 4605 Georgia Pines Drive & 3864 Coconut Road
• Market: West Palm Beach & Palm Springs

The brokers involved in this transaction were Steve Goldwyn and David Purisch of Marcus & Millichap Capital Corporation. They played a pivotal role in arranging the refinancing for The Pines and Monvil Apartments. Despite the insurance challenges, Goldwyn and Purisch were able to secure favorable terms for the 25-year loan, ensuring the success of the deal.