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California  + San Diego  + Apartments  |  June 22, 2022
Vista Multifamily Gets $8M in Financing Marcus & Millichap Capital Corporation
Mark Nieto
By: Mark Nieto

Vista Multifamily Gets $8M in Financing

Marcus & Millichap Capital Corporation (MMCC) has arranged $8 million in financing for the Vista Terrace Apartments in Vista, CA. The 34-unit property is located on Plymouth Drive and includes a mix of one-, two- and three-bedroom units as well as a swimming pool, outdoor courtyard and private patios.

The financing was secured by MMCC’s Michael Derk and Nick Gray. “Demand for well-located properties in California is high,” said Derk in a news release. “Submarkets near major city centers that provide attractive multifamily housing are seeing consistent activity and our team was able to successfully secure competitive financing.”

The seven-year fixed loan for the Vista Terrace Apartments has an LTV of 64% and an interest rate of 3.35%. The property provides access to local green spaces as well as retail and entertainment.

Read More News Stories About: Marcus & Millichap
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About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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