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Marcus & Millichap Capital Corporation (MMCC).

Marcus & Millichap Capital Corporation (MMCC) announced the following transactions:

* $1,423,360 million in acquisition financing for a 7,020 s/f retail building in Florissant, MO. Michael Balan and Sean Mooney arranged the financing for the property and worked closely with the borrower to facilitate the completion of his 1031 exchange. The loan is for five years, amortized over 30 years with a fixed interest rate of 5.89%. The loan to value is 66.5% and was closed in 37 days.

* $2,185,000 in refinancing for a 16-unit multifamily property located in the Upper East Side of Manhattan, New York. Gerald Kray arranged the 10-year financing with a New Jersey based Savings Bank. The interest rate was 4.75% with 75% loan to value.

* 10 year fixed rate loan for a mixed use property located at 283 West 11th Street in New York, New York. Brian Ursino arranged the financing. It is a 10 year fixed rate loan that is amortized over 30 years with a fixed interest rate of 5.125%.

* An $875,000 fixed rate loan for the cash-out refinance of a 10-unit multifamily apartment in Brooklyn, New York. Brian Ursino arranged the financing, which was provided by an agency. The terms of the loan are 10 years fixed with a 30 year amortization schedule. Loan to value was 55%.

* Sean Mooney arranged a $1,025,000 fixed rate loan for the cash-out refinance of a mixed use property located at 220 5th Avenue Brooklyn, NY. The loan is for seven years, amortized over 30 years with a fixed interested rate of 5.25%. The loan to value is 75%.

* Sean Mooney and Christopher Marks arranged $350,000 in refinancing for a multifamily property located at 461 St. Johns in Brooklyn, NY. The loan is for five years, amortized over 30 years with a fixed interest rate of 4.75%. The loan to value is 75%.

* A seven year fixed rate loan for a mixed use property located at 808 Prospect Avenue in Brooklyn, New York. Scan Mooney arranged the financing and assisted the borrower in correcting the certificate of occupancy issue, cured the violations and negotiated a draw schedule for the rehabilitation that needed to be done. The loan is for seven years, amortized over 30 years with a fixed interest rate of 4.875%. The loan to cost is 70%.
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Title Annotation:TRANSACTIONS
Publication:Real Estate Weekly
Geographic Code:1U2NY
Date:Apr 13, 2011
Words:397
Previous Article:Houlihan-Parnes Realtors, LLC.
Next Article:Beech Street closes 46m deal to refinance portfolio.
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