Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged a $15 million non-recourse loan to refinance a mixed-use project with 104 units and 7,800 square feet of commercial space anchored by MercyOne Waterloo Medical Center.

“Funded with private and public capital, this project received several awards, including the 2018 Audrey Nelson Community Development Achievement Award from the National Community Development Association,” said Robert Bhat, MMCC first vice president capital markets. “At the time of development, this was a pioneering project and given the experience of the developer, execution of construction and lease-up, was flawless. We were able to secure an interest rate of 3.43% fixed for 15 years with the first four years interest-only.”

About Marcus & Millichap Capital Corporation

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 2019, MMCC closed over 1,900 commercial real estate financing transactions totaling $7.1 billion. To learn more, please visit: www.mmCapCorp.com.