California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
MMCC Arranges Refi on Santa Barbara Apartments
Marcus & Millichap Capital Corporation (MMCC) arranged $7.5 million for the refinancing of 529 West Carrillo Apartments, a 50-unit multifamily property located in Santa Barbara. Ron Balys, senior managing director in MMCC’s Orange County office secured the financing with East West Bank on behalf of a private client.
Terms of the five-year loan include a 6.88% interest rate with a 30-year amortization and a loan-to-value of 50%.
The property was constructed in 1957 and renovated in 2013. It consists of five two-story buildings and is located adjacent to Highway 101, a mile from downtown Santa Barbara and a mile from the beach.
- ◦Financing


