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MMCC Arranges Financing on Deal for Six Multifamily Assets on South Side
Marcus & Millichap Capital Corporation (MMCC) arranged $10,630,000 in financing for the acquisition of six multifamily properties on Chicago’s South Side. The properties are all located in Chicago’s Beverly and Ashburn neighborhoods and total 118 units.
Dean Giannakopoulos, senior managing director, capital markets, based out of MMCC’s Chicago office, secured the financing.
“In a challenging market we were able to secure $10.6 million in financing for the acquisition of six Chicago multifamily properties,” said Giannakopoulos. “Our team was able to facilitate our clients’ value-add investment strategy by leveraging our deep lender relationships to secure attractive short-term, fixed rate financing,”
Financing terms include 24 months plus extension options, full-term interest only and a 75% LTC.
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- ◦Sale/Acquisition
- ◦Financing
