Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $9.15 million in financing for the acquisition of two multifamily properties located at 1402 Esplanade and 213 Calle Miramar in Redondo Beach, California.
Bradley Buzil, first vice president in MMCC’s Los Angeles office, secured the financing with a local fund on behalf of a private client.
“We were able to close this transaction on an expedited basis for the borrower,” said Buzil. “The cross-collateralized, fixed rate, non-recourse loan enabled the client to repatriate capital.”
1402 Esplanade features 12 units ranging from studios to two-bedrooms plus a penthouse unit. 213 Calle Miramar consists of 10 units ranging from one- to two-bedrooms and is within walking distance of Riviera Village.
