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.
