Marcus & Millichap Capital Corporation, a leading provider of commercial real estate capital markets financing solutions, arranged $5,160,000 for the refinance of Katie Court Apartments, a 107-unit multifamily property in Las Vegas, Nevada.
Michael Derk, executive managing director in MMCC’s Nashville office secured the financing with a local credit union on behalf of a private client. Terms of the 10-year loan include a 6% interest rate with 30-years amortization and a loan-to-value of 50%.
Built in 1973, Katie Court Apartments are located near the Las Vegas strip and offers studio and one-bedroom units ranging in size from 400 to 550 square feet. On-site amenities include a pool and laundry facilities. Pets are permitted with some restrictions.
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2023, MMCC closed 1,076 transactions totaling $6.73 billion.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
