Marcus & Millichap Capital Corporation has arranged $10.37 million for the refinancing of Urbane115 Apartments, a 46-unit multifamily property located at 115 East Washington Street in Appleton, Wisconsin.
Robert Bhat, senior managing director in MMCC’s Miami office, secured agency financing on behalf of a private client.“This newly built, mixed-use property is well located downtown adjacent to Fox Commons, a 180,000-square-foot commercial center focused on medical and health-related tenants,” said Bhat. “We were able to secure a 5-year, non-recourse loan at 65% loan-to-value with an interest rate of 6.10%, featuring an interest-only period.”
The property features a mix of studio and one- to two-bedroom units and features amenities such as in-unit laundry and bike storage. The apartments feature private balconies, quartz countertops, stainless steel appliances, and in-unit washers and dryers. The Urbane115 Apartments are situated in downtown Appleton, near arts and entertainment venues, dining options, and retail stores.
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