California + Los Angeles + Finance | May 3, 2023

Marcus & Millichap Capital Corporation arranged a financing loan for four multifamily properties in greater Los Angeles

MMCC Arranges Financing on Four LA-Area Apartment Properties

Marcus & Millichap Capital Corporation (MMCC) arranged a $16.4-million financing loan for four multifamily properties in the greater Los Angeles area. SVP Ronald Balys with MMCC’s Orange County office secured the financing.

Properties include a 40-unit apartment project located at 6311-6313 Monterey Rd., Montecito Heights; a 29-unit building at 13805-13809 Sherman Way in Los Angeles; a 27-unit building located at 8950 Memory Park Ave. in the North Hills; and a 22-unit, two story building located in Hollywood Hills.

“It was imperative to understand the maturity and terms of the existing debt on each of the properties in order to provide a time-sensitive solution for our client,” said Balys. “We utilized our strong lender relationships and structural expertise provided by additional MMCC team members to secure this very favorable financing.”

Loan terms include a 30-year term, a 30-year amortization, 50% LTV and a 5.42% interest rate.

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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 13-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 15-20 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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