Marcus & Millichap Capital Corporation (MMCC has arranged $3.685 million in financing for the acquisition of Beacon Commons, a 48-unit multifamily property leased by Beacon College, a private four-year college.
Garrett Fierstein, senior director in MMCC’s Orlando office, secured the financing with a national credit union on behalf of a private client. The loan features a five-year term at 67% loan-to-cost and 30-year amortization period.
“Beacon Commons presented an attractive opportunity to support much‑needed student housing in a growing educational hub,” said Fierstein. “Our team was able to structure a competitive financing package that aligned with the borrower’s goals while meeting the unique needs of a property leased to a single institutional tenant.”
Located at 600 West Oak Terrace Drive, the property features a mix of one- and two-bedroom units and features amenities including on-site laundry, parking, storage spaces and a courtyard with a firepit.
