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California  + Los Angeles  + Finance  | 

MMCC Arranges Refi on Long Beach Apartments

Marcus & Millichap Capital Corporation (MMCC) arranged $10,000,000 for the refinancing of the Orange Terrace Apartments, a 72-unit multifamily property located at 698 Orange Ave. in Long Beach. Zack Metzner, Daizy Gomez and Linsey Farrahi of MMCC’s Newport Beach office secured the balance sheet financing on behalf of a private investor.

“The location of this apartment complex in a great area of Long Beach makes it an incredibly attractive asset,” said Metzner. “We were able to secure highly favorable terms for our client including a 10-year term with a 5.9% interest rate and 50% LTV.”

The three-story property offers one-bedroom apartments and is located in the North Alamitos Beach neighborhood, a mile from the shore.

How are deals getting financed in today’s uncertain climate? On May 1, Connect Los Angeles 2024 brings together John Manning of MMCC, Gary Bechtel of Red Oak Capital Holdings, Felix Gutnikov of Thorofare and TR Hazelrigg, IV of Avatar Financial Group on the Financing with Debt Panel. Register now to hear from these industry experts. 

Read More News Stories About: Red Oak Capital Holdings
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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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