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Chicago & Midwest  + Greater Chicagoland  + Retail  | 

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.”

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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 13-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 15-20 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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