Marcus & Millichap Capital Corporation (MMCC) arranged $3,185,000 in financing for the purchase of a multifamily property located at 280 Howland Street in Redwood City.
Chad O’Connor, executive managing director in MMCC’s San Diego office, secured the financing with a private family office bridge lender.
“Our team worked closely with the firm’s investment sales division to meet the client’s needs and source local financing in a timely manner,” said O’Connor. “We were able to secure a three-year loan with full-term interest only and a loan-to-value of 65%, bringing the transaction ready to close in just three weeks.”
The Howland Street property features a mix of studio to two-bedroom units and is within walking distance of downtown Redwood City. It is situated between El Camino Real and the Bayshore Freeway, providing direct access to San Francisco, San Jose and the greater Bay Area.
Located in the heart of Redwood City, Centennial is a bustling blend of suburban charm and urban amenities. Family-friendly features include great public schools like Redwood High School and Sequoia High School residing near the neighborhood. A movie theater, shopping malls, and local restaurants, cafes, bars, and shops are available to residents of Centennial as a part of Downtown Redwood City. There is also a community green space in town, Mezes Park, offering a playground, tennis and basketball courts, and more. Department stores, sporting goods shops, furniture outlets, and more reside just outside of Centennial. Redwood City is known as a sleeper town for many commuters in the Bay Area.
Marcus & Millichap, Inc. (
