Marcus & Millichap Capital Corporation arranges $24.5 million non-recourse cash-out refinance

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Marcus & Millichap arranged a $24.48 million non-recourse loan to provide cash-out and refinance a 207-unit multifamily property in Hialeah, Florida. 

Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions has arranged a $24.48 million non-recourse loan to provide cash-out and refinance a 207-unit multifamily property in Hialeah, Florida.

“Owned and managed by the borrower for 20-plus years, this property is situated within a strong submarket of Hialeah,” said Robert Bhat, MMCC first vice president capital markets. “We were able to secure an interest rate of 3.67 percent fixed for 10 years, along with the first five years interest only. In addition, the loan had no COVID or escrow reserves.”