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MMCC Arranges $7.6M Cash-Out Loan on Shelton Apartments
Marcus & Millichap Capital Corp. has arranged a $7.6-million non-recourse loan to refinance a mixed-use property with 43 apartments and 7,000 square feet of commercial space in Shelton, CT. The borrower was not identified.
“Shelton is a diverse mid-suburban community that has seen excellent growth in the past few years, as several companies have moved their headquarters to the area,” said Robert Bhat, senior director in MMCC’s Miami office.
“The borrower developed the property and quickly leased it up due to strong demand. We secured a 15-year fixed rate at 5% with interest only.”
JD Parker, New York City-based SVP of Marcus & Millichap, acted as the broker of record on the transaction.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing

