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California  + Los Angeles  + Finance  | 

MMCC Arranges Refi on Santa Barbara Apartments

Marcus & Millichap Capital Corporation (MMCC) arranged $7.5 million for the refinancing of 529 West Carrillo Apartments, a 50-unit multifamily property located in Santa Barbara. Ron Balys, senior managing director in MMCC’s Orange County office secured the financing with East West Bank on behalf of a private client.

Terms of the five-year loan include a 6.88% interest rate with a 30-year amortization and a loan-to-value of 50%.

The property was constructed in 1957 and renovated in 2013. It consists of five two-story buildings and is located adjacent to Highway 101, a mile from downtown Santa Barbara and a mile from the beach.

Read More News Stories About: Marcus & Millichap
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Inside The Story

MMCC's Balys

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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