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MMCC Lines Up Acquisition Loan for Mission Viejo Retail/Office
Marcus & Millichap Capital Corporation (MMCC) arranged $21,775,000 in financing for the purchase of Kaleidoscope Center, a retail shopping mall with office space located at 27741 Crown Valley Pkwy. in Mission Viejo. Rick Judge, SVP, capital markets based in MMCC’s Newport Beach office, secured the financing.
Terms of the five-year loan include one year of interest-only at 7.5% followed by 25-year amortization. Major tenants include L.A. Fitness, Regal Cinemas, Mariners Church, DMV and Buffalo Wild Wings.
“Notwithstanding a challenging market, we were able to secure attractive financing for this acquisition,” said Judge.
For up-to-the-minute insights on the state of the market and what’s next in the current cycle, be sure to attend Connect Investment & Finance 2023 on Oct. 24 at the Hyatt Regency O’Hare in Rosemont, IL. Click here to register.
- ◦Financing
