Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged a $5 million loan to acquire a portfolio of three National Tire and Battery (NTB) properties in Alabama, Texas and South Carolina with an average cap rate of 5.8% and total purchase price of $7.76 million.
“National Tire and Battery is a strong tenant with good credit that has shown steady growth over the past few years,” says Robert Bhat, a director in MMCC’s Miami office. “These properties are all brand new with long-term leases, and strategically located within massive retail corridors.”
Bhat arranged the 11-year fixed-rate financing at 4.28 percent with 25-year amortization.
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. Through its network of national, regional and local lenders, MMCC provides capital markets products for a wide variety of investment properties, including apartments, shopping centers, office buildings, industrial facilities, single-tenant net-lease properties, seniors housing, hotels/motels, manufactured home communities and self-storage facilities. In 2016, MMCC closed over 1,650 commercial real estate financing transactions. To learn more, please visit: www.mmCapCorp.com