Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged a $5.8 million loan secured by a 105-room Springhill Suites by Marriott in Port St. Lucie, Florida. Robert Bhat, a director in MMCC’s Miami office, arranged the debt placement.

“This hotel was acquired in an all-cash transaction in March 2016. We helped the buyer, an experienced hotel development group that specializes in value-add opportunities, refinance the investment. They will complete a Property Improvement Plan (PIP) in the fall with a new design plan for the property,” says Bhat.

Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. Through its network of national, regional and local lenders, MMCC provides capital markets products for a wide variety of investment properties, including apartments, shopping centers, office buildings, industrial facilities, single-tenant net-lease properties, seniors housing, hotels/motels, manufactured home communities and self-storage facilities. In 2015, MMCC closed more than 1,600 commercial real estate financing transactions. To learn more, please visit: www.mmCapCorp.com