MMCC Arranges Financing for Well-Located San Diego Multifamily
Marcus & Millichap Capital Corporation (MMCC) arranged $3,590,000 in financing for a 12-unit multifamily property located at 3531 Florida St. in San Diego. Chad O’Connor, executive managing director in MMCC’s San Diego office, secured the financing with a national bank on behalf of a private client.
The loan features a fully amortizing 30-year term with three years of interest-only payments at a 5.95% rate, and a 65% loan-to-value.
“The property’s strong location and amenity mix made it an ideal candidate for long-term fixed-rate financing, and we’re pleased to have delivered a solution that aligns with our client’s investment goals,” said O’Connor.
3531 Florida St. contains a mix of studio to two-bedroom units. It offers onsite laundry, a barbeque area and a pool.
On December 4th, find out what’s really happening in today’s deal ecosystem at Connect Southeast Multifamily when the industry’s leaders unpack where capital is going, how underwriting is evolving, and what creative financing strategies are gaining traction in this shifting landscape. Register to be there at www.ConnectSEMF2025.com
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout