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California  + Los Angeles  + Finance  | 

MMCC Arranges Bridge Loan for Lompoc Multifamily Acquisition

Marcus & Millichap Capital Corporation (MMCC) arranged $3,412,500 for the acquisition of a 30-unit multifamily property located at 701-717 N. F St. in Lompoc. Ron Balys, SVP in MMCC’s Orange County office, secured the bridge financing with a western-based fund on behalf of a local investment management company.

“We were able to close this deal in just three business days,” said Balys. “The initial lender was unable to close the deal and we were tasked with securing financing to satisfy the buyer and seller 1031 exchanges.”

Terms of the one-year loan include an interest rate of 11.5% and a loan-to-value of 65%. The property consists of five detached buildings, each with six two-bedroom units.

Read More News Stories About: Marcus & Millichap
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MMCC's Balys

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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).

  • ◦Financing
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