Marcus & Millichap Capital Corporation, a leading provider of commercial real estate capital markets financing solutions, arranged $6,197,000 for the refinancing of Maryland Park, a 135-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%.
The gated property is located minutes from the University of Nevada Las Vegas and features one-bedroom apartments. On-site amenities include a pool, laundry, a courtyard, a grill and a picnic area. Built in 1971, Maryland Park apartments feature 1-bed/1-bath units averaging 750 square feet. The property is cat-friendly.
Ideally located in the heart of Las Vegas, Maryland Park is a scenic oasis tucked away from the hustle and bustle of the city life. With access to the city’s most desirable attractions like the famous Las Vegas Strip, exceptional shopping at Premium Outlets, tasteful dining at World Famous Eateries, a fabulous night life, or casual outdoor activities like hiking or relaxing lakeside, you are sure to find a lifestyle that fits your most desirable qualities.
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.
