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MMCC Arranges Financing on Fairfield Medical and Retail Assets
Marcus & Millichap Capital Corporation (MMCC) arranged $6.53 million in financing across two transactions in Connecticut’s Fairfield County: one for a mixed-use medical office and retail property at 151 Old Ridgefield Rd. in Wilton, and another for an outdoor shopping center at 447 Monroe Tpke. in Monroe. Steven Rock, first VP, capital markets in MMCC’s Westchester office, arranged the financing for both deals.
“Both properties are well-located and offer stable tenant bases,” said Rock. “With the retail and medical office markets continuing upward trends post-pandemic, we were able to field competitive lending processes for both.”
The $3.43-million acquisition loan for the Wilton property has a 70% LTV and a seven-year term with an interest rate of 3.5%. It was structured with a 25-year amortization and a five-year treasury index rate. The $3.1-million debt acquisition loan for the property in Monroe had identical terms.
- ◦Financing
