SEATTLE, March 30, 2023 – Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged two financings in the Longview/Kelso metropolitan area of Washington, consisting of a $1,550,000 cash-out refinance for a 26-unit multifamily property and $2,177,500 in acquisition financing for a 24-unit multifamily property.
Two loans totaling $3,727,500 were arranged by Tammy Linden, First Vice President, Capital Markets located in the MMCC Seattle office.
The $1,550,000 cash-out refinance was arranged for a 26-unit, 20,020 square-foot multifamily property consisting of 13 duplex structures, located at 1420 Pacific Avenue N. in Kelso, Washington. The 5-year fixed rate loan features a 5.67% fixed rate, 30-year amortization and a 55% LTV.
The $2,177,500 acquisition financing was arranged for a 24-unit, 20,400 square-foot multifamily property consisting of four two-story buildings, located at 2120 46th Avenue in Longview, Washington. The 5-year fixed rate loan features a 5.52% fixed-rate, 30-year amortization and a 57% LTV.
“Both deals were arranged for a private investor in the Longview/Kelso metropolitan area with a regional credit union,” said Linden. “The interest rates for both loans were secured at the time of origination for 90 days without a rate lock deposit or fee. This 5-year fixed rate financing provided the investor with flexible prepayment options.”
