Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $28,060,600 in financing for Sunset Terrace, a 108-unit multifamily property in Renton, Washington.
Tammy Linden, managing director in MMCC’s Seattle office, arranged the financing with Lument on behalf of the borrower, ST Renton LLC. The transaction was executed as a HUD 223(f) loan with green certification, providing maximum leverage to retire the interim acquisition bridge loan originally arranged by Linden and MMCC at the issuance of the temporary certificate of occupancy in July 2023.
Located within a short drive of Seattle, the property was constructed in 2023 and features a mix of studios, one- and two-bedroom apartments, live/work units and two commercial tenant suites. Amenities include in-unit laundry, fitness center, business center, clubhouse, rooftop deck with barbecue grills, gated garage parking, bike rack, and pet-friendly accommodations.
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.
