Marcus & Millichap Secures $8 Million Refinance For Fremont Villas Multifamily In Las Vegas

The asset involved in this transaction is Fremont Villas, a multifamily community comprising 138 units located at 121 North 15th Street in Las Vegas, NV. The property was refinanced for a total loan amount of $8,000,000, with specific terms including a 10-year loan duration, a 5.95% interest rate, and 30-year amortization.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,000,000
• Loan Type: Refinance
• Loan Terms: 10-year loan, 5.95% interest rate, 30-year amortization
• Units: 138
• Address: 121 North 15th Street, Las Vegas, NV
• Broker: Michael Derk - Marcus & Millichap

Michael Derk from Marcus & Millichap represented the refinancing of Fremont Villas, facilitating the loan from a local credit union for a client who is expanding their multifamily portfolio in the Las Vegas market.