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MMCC Arranges $18M of Construction Loans in Escondido
Marcus & Millichap Capital Corporation (MMCC) arranged $9,200,000 and $9,115,068 construction loans for the development of a multifamily property located at 555 West Grand Ave and a residential subdivision located at 1217 Nordahl Rd., respectively, in Escondido. Chad O’Connor, executive managing director, capital markets, based out of MMCC’s San Diego office, secured the financing.
The loans have a two-year term with multiple extension options. 555 West Grand Ave in central Escondido is a transit-oriented development site two blocks from the Transit Center. It will include 32 rental condominium units and flex office and retail space on the ground floor.
Royal Garden Community, located at 1217 Nordahl Rd., will include 15 luxury residential units within a gated community. The location is less than a mile from Interstates 15 and 78, providing convenient access to neighboring cities such as Carlsbad, Oceanside, San Marcos and Vista.
- ◦Financing


