Marcus & Millichap Secures $3.525M Acquisition Loan For 460 Rodi Road Industrial Property In Pittsburgh

A 28,600-square-foot single-tenant industrial property located at 460 Rodi Road in Pittsburgh, PA is involved in this transaction, securing a loan amount of $3,525,000. The property is financed through an acquisition loan structured as a 10-year loan with a fixed interest rate of 6.5% and a 30-year amortization period, holding a loan-to-value ratio of 75% and containing no prepayment penalty.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $3,525,000
• Loan Type: Acquisition Loan
• Loan Terms: 10-year loan, 6.5% fixed interest rate, 30-years amortization, 75% loan-to-value, no prepayment penalty
• Address: 460 Rodi Road
• Market: Pittsburgh, PA
• Brokers: Garrett Fierstein & Spencer Koch - Marcus & Millichap

The acquisition financing for this property was secured by Marcus & Millichap Capital Corporation (MMCC) from a local credit union, highlighting their role in facilitating this transaction and providing necessary financial support.