Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $3,750,000 for the refinancing of a single tenant retail asset located at 1908 Collins Ave in Miami Beach, Florida.
Robert Bhat, senior managing director, capital markets, based out of MMCC’s Miami office secured the financing.
“The tenant, Baoli, is a high-performing and world-renowned restaurant and lounge located on Collins Avenue, right in the heart of Miami Beach nightlife,” said Bhat. “We were able to secure attractive loan terms given the operational strength of the asset and location of the property.”
Terms of the 10-year loan include an interest rate of 7.62% with 25-years amortization.
