Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, has arranged $8 million in financing for a retail center located in Encinitas, California. The financing was secured by Chad O’Connor, based out of MMCC’s San Diego office.
“We were able to rate lock the loan in January which protected our client from the
interest rate volatility we are experiencing in the market now,” said O’Connor.
The 10-year loan has a fixed interest rate of 3.75 percent. Built in 1982, the property
comprises 36,499 square feet and is anchored by Union Bank and Breakfast Republic.
The property is in close proximity to restaurants, salons and beaches.