Marcus & Millichap Capital Corporation (MMCC) has arranged $8.025 million in financing for a 94,207-square-foot retail property located at 5301 South 108th Street in Hales Corners, Wisconsin.
Michael Hughes, managing director in MMCC’s Milwaukee office, secured the financing on behalf of a private client. “The Hales Corners Plaza is a 100% leased fitness-anchored retail center located in a strong trade area,” said Hughes. “The borrower selected a credit union from a number of qualified options, providing a competitive rate, higher leverage and extended amortization.”
The loan features a 5-year term at 75% loan-to-value, a 6% interest rate and a 30-year amortization period. The property is located in a highly trafficked area with major tenants including Great Clips, a nail salon, an AT&T Store and a physical therapy clinic.
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