$10.2 Million Construction Loan Arranged by Marcus & Millichap Capital Corp

Shelton, CT, April 6, 2020 – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged a $10.2 million construction loan to build a mixed-use project with 68 residential units and 3,000 square feet of commercial space. The loan-to-cost was 85 percent.

“The financing is for Phase II of the successful Bridge Street Commons project,” said Robert Bhat, MMCC first vice president capital markets. “The first phase leased up very quickly and showed strong demand. The borrower is very experienced and has a great property management staff. We were able to secure an interest rate of 3.50% for the construction and lease-up term, with an optional fixed-rate for the remaining 15-year term.”