Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
MMCC Arranges Acquisition Loan on Round Lake Retail
Marcus & Millichap Capital Corporation (MMCC) arranged a $6.01-million acquisition loan for a 14,000-square-foot shopping center located in Round Lake Beach, IL. The borrower wasn’t disclosed.
“The property is a 100% leased shopping center anchored by Starbucks, Chipotle, T-Mobile and Firestone,” said Robert Bhat, Miami-based first VP capital markets with MMCC.
He added, “The borrower was able to lock in a five-year term at a 3.25% interest rate, with a 25-year amortization and a loan-to-value of 75% with only partial recourse.”
- ◦Acquisition

