Marcus & Millichap Capital Corporation (MMCC) arranged $9.4 million in financing for a retail property located at 420 S. Alvarado St. in Los Angeles. The property is currently tenanted by Ross Dress for Less.
Bradley Buzil, senior director in MMCC’s Los Angeles office, secured the financing with a national bank on behalf of a private client.
“The borrower faced an impending loan maturity and successfully secured fixed-rate financing with a 10-year term,” said Buzil. “The non-recourse structure features full-term interest-only payments, enhancing cash flow while locking in a fixed cost of capital for the sponsorship.”
Terms of the 10-year non-recourse loan include a 6.57% interest rate with a 65% loan-to-value.
Be there when John Chang, SVP, chief intelligence & analytics officer at Marcus & Millichap, provides an economic update during the 9th Annual Connect Los Angeles 2025, June 18 at the Intercontinental Los Angeles Downtown. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else.
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