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MMCC Arranges Refi on Westlake Multifamily
Marcus & Millichap Capital Corporation (MMCC) arranged a $6,000,000 refinancing for a multifamily property located at 840 S. Grandview St. in Los Angeles’ Westlake neighborhood. Ron Balys, SVP, capital markets based in MMCC’s Orange County office secured the financing on behalf of the borrower.
“This was bridge to stabilized execution,” said Balys. “To gain the benefit of flexibility while stabilizing assets, bridge lending will continue to be an important lending tool for investors.”
Balys secured a 12-month term with 8.9% interest only and an LTV of 60%. The 36-unit property was constructed in 1990. Its location provides direct access to the Harbor and Santa Monica freeways with convenient access to the greater Los Angeles region.
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- ◦Financing




