Michael Derk Of Marcus & Millichap Arranges $6.2M Refinance For Maryland Park In Las Vegas

A loan was arranged for the refinancing of Maryland Park, a 135-unit apartment complex located at 1101 Dumont Boulevard in Las Vegas, NV. The loan amount totals $6,200,000, provided by a local credit union with a 10-year term. The financing features a 6% interest rate, a 30-year amortization schedule, and a 50% loan-to-value ratio.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,200,000
• Loan Type: Refinance
• Units: 135
• Address: 1101 Dumont Boulevard
• Market: Las Vegas, NV
• Loan Terms: 10-year loan, 6% interest rate, 30-year amortization, 50% loan-to-value ratio

The transaction was facilitated by broker Michael Derk representing Marcus & Millichap, ensuring that all aspects of the loan arrangement were handled effectively and professionally during the refinancing of the property.