IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI), specializing in capital markets services for major private and institutional clients, announced today the $37 million refinancing of Dane Park, a luxury 392-unit multifamily property in Grapevine, Texas.
Brian Eisendrath, executive managing director, and Cameron Chalfant, senior managing director, based in IPA Capital Markets’ Los Angeles office secured the financing with M&T RCC on behalf of a private investor.
Terms of the five-year loan include 6.23% interest only and a spread of 1.68%.
The property features a mix of one- and two-bedroom luxury units. Dane Park has two locations and is pet-friendly with several dog services, including onsite daycare, grooming and concierge services.
About IPA Capital Markets
IPA Capital Markets is a division of Marcus & Millichap (NYSE: MMI). IPA Capital Markets provides major private and institutional clients with commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, and sponsor equity. For more information, please visit institutionalpropertyadvisors.com/capital-markets.
