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California  + Central Valley  + Apartments  | 

MMCC Arranges Credit Union Financing for Three Central Valley Multifamily Properties

Marcus & Millichap Capital Corporation (MMCC) has arranged $12,062,500 in financing for three multifamily properties located in the Central Valley. The borrower was not disclosed.

Senior managing director David Campbell, of MMCC’s Palo Alto office, secured the financing with a regional credit union on behalf of a private client. The loans feature a 10-year term, a 75% loan-to-value ratio, a 6.375% interest rate and a 30-year amortization schedule.

“Financing three assets in three different cities under one credit union relationship allowed our client to simplify execution while locking in long-term, stable capital,” said Campbell. “The lender’s knowledge of the Central Valley market was a key factor in bringing this transaction to the finish line.”

Read More News Stories About: Marcus & Millichap
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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 19-plus years’ experience covering the commercial real estate industry and 35-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 11-15 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).

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