LOS ANGELES--(BUSINESS WIRE)--Institutional Property Advisors Capital Markets (IPACM), a leading provider of debt and equity placements and advisory solutions for major investors, announces that Jake Roberts, first vice president capital markets, IPA, a division of Marcus & Millichap, and Anita Paryani, vice president capital markets, IPA, both in West Los Angeles, arranged approximately $100,000,000 in commercial real estate financing in the second quarter of this year.
“As the country’s economy continues to grow, commercial real estate investors are taking advantage of the market’s fundamentally sound conditions to add to their investment portfolios and refinance existing assets at favorable terms from a wide variety of funding sources,” says Roberts.
“Investors are seeing strong performances from most property types and are enjoying improved access to financing,” adds Paryani. “Nonbank lenders, including private equity lenders, are providing more loans, especially first mortgage loans, to commercial real estate borrowers and the number of CMBS lenders in the marketplace continues to grow.”
“Even with the increasing likelihood of an upward interest rate adjustment in September, it’s a great time to be a borrower,” concludes Roberts.
One of Roberts and Paryani’s most significant transactions in the second quarter is $29,250,000 in acquisition financing for a multifamily property in Northern California. The 65 percent loan-to-value, three-year debt placement has an adjustable interest rate of LIBOR plus 200 basis points. Roberts and Paryani also procured $23,300,000 in fixed-rate refinancing at 4.53 percent over a 30-year term for a hospitality property in San Diego. That debt placement is 70 percent loan-to-value.
Other financial arrangements completed by Roberts and Paryani in the quarter include the placement of multifamily acquisition loans in Spokane, Wash. that totaled more than $19 million and a $6.78 million industrial warehouse refinancing in Grand Rapids, Mich.
IPA Capital Markets provides the industry's most comprehensive institutional capital markets advisory platform. Our expertise and services cover the entire capital stack and all asset classes and investment objectives. Our team is supported by Marcus & Millichap Capital Corporation’s (MMCC) 35 offices and more than 80 capital markets professionals. The MMCC team closed 1,305 financing transactions in 2014, making it one of the largest financial intermediaries in the United States.