LOS ANGELES, Calif.,November 25, 2024– Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $7,034,000 and $6,545,000for the refinancing of Canyon Crest Apartments and Hawthorne Chateau Apartments, two multifamily properties located in Los Angeles’ MSA.
Michael Derk, executive managing director in MMCC’s Nashville office secured agency financing on behalf of a private client.
Canyon Crest Apartments secured a 10-year loan with full-term interest-only at a 5.67% rate with a loan-to-value of 50%. Hawthorne Chateau Apartments also secured a 10-year loan, with full-term interest-onlyat a rate of 5.9% and a loan-to-value of 65%.
Located at 7833 Ventura Canyon Avenue in Panorama City, Canyon Crest Apartments features a mix of one- to three-bedroom units and offers a variety of amenities including a spa, a resort-style pool, a fitness center, parking garages, a dog park and a picnic area.
Hawthorne Chateau Apartments, located at 3505 W 139th Street in Hawthorne, features a mix of one- to two-bedroom apartments and offers amenities such as laundry, a fitness center and an underground gated parking garage.
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.
