News: Retail
Posted: October 25, 2024
Marcus & Millichap Capital Corp. arranges $5.41m financing of retail property
North Attleboro, MA Marcus & Millichap Capital Corp. (MMCC), a provider of commercial real estate capital markets financing solutions, arranged $5,414,500 for the refinancing of a retail property tenanted by CVS.
Chris Marks and Steve Filippo in MMCC’s Manhattan office secured the financing with a national bank on behalf of a northeast-based investment company.
“We were able to secure well-below-market rates for one of our repeat clients,” said Marks. “The market continues to have significant interest in well-located retail assets.”
Terms of the 10 year loan include a 5.29% fixed interest rate with 30-years amortization and a loan-to-value of 65%.
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Quick Hits
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Placemaking. That is the word for 2024. While the concept has historical precedence in urban development, it became part of our current culture in the 1960’s when urbanists started to think about cities for people, not just cars.
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