Marcus & Millichap Secures $5M Credit Facility For West Palm Beach Condo Owner

The multifamily property located at 738 Executive Center Drive in West Palm Beach was involved in a loan transaction amounting to $5,000,000. The loan terms included an interest-only structure for the initial two-year draw period, transitioning into a five-year fixed-rate loan with a thirty-year amortization schedule.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,000,000
• Address: 738 Executive Center Drive
• Market: West Palm Beach
• Loan Terms: Interest-only for two years, followed by a five-year fixed-rate loan

David Purisch and Steve Goldwyn of Marcus & Millichap played pivotal roles in securing the $5 million credit facility for a minority owner of West Palm Beach condominium units. The financing arrangement was facilitated by Marcus & Millichap Capital Corporation, enabling the client to benefit from a flexible loan structure tailored to their needs.