Marcus & Millichap Capital Corporation arranged $18 million of debt for Arboretum Circle, a 240-unit student housing asset in Kalamazoo, Mich.
Rick Lynn, an associate director in the firm’s Chicago Oak Brook office, arranged the loan.
The 10-year fixed loan amortizes over 30 years at 4.6 percent, with a 70 percent loan-to-value.
