Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $4,249,600 in financing for NOW 193, a luxury 21-unit multifamily property in Dothan, Alabama.
Robert Bhat, senior managing director in MMCC’s Miami office, secured agency financing on behalf of a private client. The loan is non-recourse and features a 35-year term, fully amortized at 85% loan-to-value with a 5.8% interest rate.
“We are pleased to have secured competitive, long-term financing for NOW 193, allowing our client to maximize both stability and value in this thriving multifamily market,” said Bhat. “This transaction demonstrates our ongoing efforts to offer solutions that facilitate the development of residential communities in Alabama.”
The property, originally built in 1920, offers a mix of one- to three-bedroom units and is pet-friendly with dedicated bike racks outside. It is located in downtown Dothan, 15 minutes from DHN Regional Airport.
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 2024, MMCC closed 1,249 transactions totaling $9.1 billion.
