MMCC Arranges Financing for Orange Multifamily Acquisition

Marcus & Millichap Capital Corporation (MMCC) arranged $12.6 million in financing for the acquisition of Bel Air and El Commodor Apartments, two contiguous 27-unit multifamily properties located at 315-343 S. Bedford Rd. in Orange.

Rick Judge, senior managing director in MMCC’s Orange County office, secured the financing on behalf of a private client. The loan was provided by a national bridge lender and features a two-year term with full-term interest only payments and an 80% loan-to-value ratio.

“This financing provides the borrower with a flexible bridge structure to execute its business plan for two well-located multifamily assets,” said Judge. “The properties’ proximity to major healthcare employers, the MainPlace Mall and regional transportation corridors supports their long-term investment profile.”

Bel Air and El Commodor Apartments offer studio, one- and two-bedroom units within gated communities featuring courtyards. The properties are situated approximately half a mile from the multi-phase redevelopment of MainPlace Mall and within walking distance of Children’s Hospital of Orange County and Providence St. Joseph Hospital.

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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 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).

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