1. Marcus & Millichap arranged $48.4 million refinancing for Britton Commerce Center. 2. The loan features a fixed rate of 5.76% and 30-year amortization. 3. Britton Commerce Center is fully leased with significant tenant appeal. 4. IPA Capital Markets enhances MMI's credibility in capital market services. 5. MMI demonstrated robust transaction volume with $49.6 billion in sales.
The refinancing activity shows MMI's solid positioning in capital markets, potentially boosting revenue.
The refinancing arrangement indicates operational strength, suggesting continued market confidence in MMI.
Immediate financing actions can translate to quick revenue implications, affecting Q4 earnings.
IPA Capital Markets, a division of Marcus & Millichap (NYSE:MMI) specializing in capital markets services for major private and institutional clients, has arranged $48.4 million in financing for the refinance of Britton Commerce Center, a Class-A industrial park in Oklahoma City, Oklahoma, on behalf of the client, Oklahoma City-based Gardner Tanenbaum.
Sunny Sajnani, executive managing director, and Travis Headapohl, associate director, both based in the firm's Dallas office, secured and structured a 5-year credit union loan with terms including a fixed rate of 5.76%, 30-year amortization, and 24 months of interest-only payments. Totaling 560,000 square feet and fully leased to national tenants, the five-building Class A industrial park is located near the intersection of Interstate 35 and Interstate 44, which connects Oklahoma City to Tulsa.
"Our relationship with IPA Capital Markets is a true partnership," said Todd McNeill, CEO at Gardner Tanenbaum. "Sunny and Travis not only sourced the financing but were engaged at every stage to ensure optimal terms and certainty of execution. We were pleased to close this loan on schedule with no surprises."
About IPA Capital Markets
IPA Capital Markets is a division of Marcus & Millichap (NYSE:MMI). IPA Capital Markets provides major private and institutional clients with commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, and sponsor equity. For more information, please visit institutionalpropertyadvisors.com/capital-markets.
About Marcus & Millichap, Inc. (NYSE:MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. Marcus & Millichap closed 7,836 transactions with a sales volume of approximately $49.6 billion in 2024. The company had 1,712 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit www.MarcusMillichap.com.
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Gina Relva, VP of Public Relations
Marcus & Millichap
gina.relva@marcusmillichap.com