Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged a $3.68 million non-recourse loan to refinance a 32-unit multifamily property in Coral Gables, Florida. Robert Bhat, a senior director in MMCC’s Miami office, arranged the financing.

“This property is located in a strong submarket, which has a vacancy of 3 percent. I was able to get the foreign national owner a nonrecourse loan with a rate of 3.78 percent fixed for five years, with one year of interest only,” says Bhat.

About Marcus & Millichap (NYSE: MMI)

With over 1,800 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed nearly 9,000 transactions in 2017 with a value of approximately $42.2 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com