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Marcus & Millichap arranges $4.3M acquisition loan for Bolingbrook retail asset

July 2, 2020
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Marcus & Millichap Capital Corp. has arranged a $4,312,500 acquisition loan to acquire a 9,850-square-foot retail strip center located in Bolingbrook, Illinois.

“The property is an outparcel to a Meijer Supermarket and is located within a massive retail corridor surrounded by Home Depot, Lowes, Kohl’s and Target,” said Robert Bhat, first vice president capital markets in MMCC’s Miami office. “We were able to lock in a 15-year fixed rate at 3.16 percent with 18 months of interest only, followed by a 25-year amortization.”

The terms of the loan include 75 percent loan-to-value and 25 percent recourse. Tenants include MOD Pizza, Aspen Dental and Smoothie King.

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