NEW YORK—Marcus & Millichap Capital Corp. (MMCC) has arranged a $14 million loan for a 58-unit mixed-use property in New York City. MMCC’s Christopher Marks, associate director, arranged the funding.
“Our client was eager to take advantage of the low interest rate environment,” said Marks. “They intend to use the proceeds of this loan for construction on another income-producing property.”
Sean Beuche and David Lloyd, associates at Marcus & Millichap Real Estate Investment Services, referred the borrower to MMCC.