Marcus & Millichap : Capital Corporation Arranges a $19.2M Loan to Refinance a Portfolio of Golf Courses in the Coachella Valley of Southern California
February 26, 2021 at 03:10 pm EST
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LA QUINTA, Calif., Feb. 26, 2021 - Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged a $19.2M loan to refinance nine golf courses and a country club in La Quinta, California.
The five-year loan, provided by a Southern California bank, was structured with a competitive interest rate and 50% loan-to-value. The financing was negotiated by Marc Cesarec, who is based in MMCC's Encino office.
'Golfing is one aspect of life that has been largely spared from the negative effects of the coronavirus outbreak,' said Cesarec. 'With the implementation of strict safety protocols, golf has seen an increase in popularity and golf course memberships and revenues are up industry-wide.'
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About Marcus & Millichap (NYSE: MMI)
With more than 2,000 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 9,726 transactions in 2019 with a value of $49.7 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.
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Marcus & Millichap Inc. published this content on 26 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 February 2021 20:09:06 UTC.
Marcus & Millichap, Inc. is a brokerage company. The Company is specialized in commercial real estate investment sales, financing services, research, and advisory services. The Company also offers market research, consulting, and advisory services to its clients. The Company offers services to its clients by underwriting, marketing, selling, and financing commercial real estate properties in a manner that maximizes value for sellers, provides buyers with a diverse inventory of commercial properties, and secures competitive financing from lenders for borrowers. The Company divides its commercial real estate into four market segments: properties, private client market, middle market, and larger transaction market. The Company serves clients with one property, multiple properties, and large investment portfolios. The Companyâs investment brokerage and financing professionals serve private clients within the private client market segment.
Marcus & Millichap : Capital Corporation Arranges a $19.2M Loan to Refinance a Portfolio of Golf Courses in the Coachella Valley of Southern California