Marcus & Millichap Capital Corp. (MMCC), one of the leading providers of commercial real estate financing and capital markets expertise, has arranged a $29.625 million acquisition loan for International Corporate Center, a class A office building. Located at 555 Theodore Fremd Ave., the 168,499 s/f property was developed in 1990. Christopher Marks, an originator in the Manhattan office of MMCC, arranged the financing.
"Chris and his team did an excellent job assessing the client's business plan for the asset and delivering the optimal capital markets solution based on it," said John Wilcox, vice president of MMCC.
The 10-year, fixed-rate CMBS loan, with five years interest-only, amortizes over 30 years at a rate of 4.32% and 75% LTV. Tags: