Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $3,470,000in financing for the acquisition of a single tenant asset occupied by Chesterbrook Academy Preschool at 130 Borton Landing Road in Moorestown, New Jersey.
Josh Sciotto, senior director in MMCC’s Phoenix office, secured the financing with a local credit union on behalf of a private investor based in New Jersey.
Terms of the 10-year loan include a 6.2% fixed interest rate with 30-years amortization and a loan-to-value of 64%.
The property is located in the Philadelphia MSA. Chesterbrook Academy is one of several private school institutions operated under Spring Education Group, a multi-brand education network spanning infant care through high school.
About Marcus & Millichap Capital Corporation
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. To learn more, please visit: marcusmillichap.com/financing.
