MMCC Secures $6M Refinance Loan For 36-Unit Multifamily Property In Los Angeles

The 36-unit multifamily property located at 840 South Grandview Street in Los Angeles has undergone a refinancing deal. Marcus & Millichap Capital Corporation (MMCC) arranged a $6 million bridge loan for this property in the Westlake neighborhood. The loan has a 12-month term with 8.9% interest only and an LTV of 60%. This refinancing provides flexibility for asset stabilization in the market.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $6,000,000
• Loan Type: Refinance
• Loan Terms: 12-month term, 8.9% interest only
• LTV: 60%
• Broker: Ron Balys - Marcus & Millichap Capital Corporation

Ron Balys, a representative of Marcus & Millichap Capital Corporation, played a pivotal role in securing this refinancing deal for the 36-unit multifamily property. With his expertise and industry connections, he facilitated the loan arrangement that resulted in the advantageous terms for the borrower. This transaction highlights MMCC's capability to provide tailored financial solutions to meet the specific needs of their clients in the Los Angeles market.