LOS ANGELES — Marcus & Millichap Capital Corp. (MMCC) has arranged $16.8 million for the refinancing of Le Noble Apartments, a 46-unit property located at 5768 W. 3rd St. in Los Angeles. The community features elevators, a dog park, courtyard and fitness center that is currently under construction. Units include balconies, as well as washers and dryers.
Dan Litman of MMCC secured the financing with a national bank on behalf of a local commercial brokerage firm that specializes in sales, leasing and management of multifamily and commercial properties located in Los Angeles County, California.
Terms of the 30-year loan include three years of interest-only payments at a 6.19 percent rate, followed by a 30-year amortization and a 65 percent loan-to-value ratio.