MMCC Arranges Refi on Vista Townhome Complex
Marcus & Millichap Capital Corporation (MMCC) arranged a $15.043-million loan to refinance Santa Fe Townhomes, a 45-unit multifamily property located at 1470 S Santa Fe Ave. in Vista. Chad O’Connor, executive managing director, capital markets, based in MMCC’s San Diego office, secured the financing.
“The location of this newly constructed apartment complex in the heart of Vista makes it an incredibly attractive asset,” said O’Connor. “This loan retires a construction loan we secured for our client two years ago and allows them to cash out to pursue other opportunities. We were able to secure highly favorable terms for the client, including a non-recourse, five-year fixed interest rate loan of 5.9% and a 65% loan-to-value.”
Constructed in 2022, the property is located minutes from Highway 78 and 15 minutes from Carlsbad and Oceanside.