Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $3,477,500 in financing for the acquisition of a 9-unit multifamily property located at 4152 32nd Street in San Diego, California.
Chad O’Connor, executive managing director in MMCC’s San Diego office secured a value-add bridge loan with a California-based boutique private lending firm on behalf of a private client.
The 3-year loan features an interest-only payment structure at an 8.25% rate, a 6-month prepayment penalty period, and a 65% loan-to-value ratio.
The property is located near I-805, about one mile from Balboa Park. Units range from one- to two bedrooms.
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 2024, MMCC closed 1,249 transactions totaling $9.1 billion. To learn more, please visit: marcusmillichap.com/financing.
