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California  + Los Angeles  + Finance  | 

MMCC Arranges Refi on Westlake Multifamily

Marcus & Millichap Capital Corporation (MMCC) arranged a $6,000,000 refinancing for a multifamily property located at 840 S. Grandview St. in Los Angeles’ Westlake neighborhood. Ron Balys, SVP, capital markets based in MMCC’s Orange County office secured the financing on behalf of the borrower. 

“This was bridge to stabilized execution,” said Balys. “To gain the benefit of flexibility while stabilizing assets, bridge lending will continue to be an important lending tool for investors.” 

Balys secured a 12-month term with 8.9% interest only and an LTV of 60%. The 36-unit property was constructed in 1990. Its location provides direct access to the Harbor and Santa Monica freeways with convenient access to the greater Los Angeles region. 

Connect Orange County will take place Sept. 27, 2023 at VEA | Newport Beach Marriott in Newport Beach, concurrently with Connect Healthcare Real Estate on Sept. 27 and 28. Click here to register for Connect Orange County, and here to register for Connect Healthcare Real Estate.  

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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 16-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 7-10 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).

  • ◦Financing
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