Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged a $3.6 million non-recourse loan to refinance a 74,335-square-foot small bay industrial property located in Port Saint Lucie, Florida.

“Located on 6.6 acres, the property has remained 93% occupied throughout the pandemic,” said Robert Bhat, MMCC first vice president capital markets. “The asset is owned and managed by an experienced small bay industrial developer, which helped the lender get comfortable with eliminating recourse.” The interest rate is 3.87% with a 25-year amortization.

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.