
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