Chris Marks and David Zerman of Marcus & Millichap Capital Corp. secured acquisition financing within an expedited 25 day time frame. The $6.21 million non-recourse loan was provided at a 10-year fixed interest rate of 4.62% with interest only payments for five years. Marcus & Millichap Capital Corp. was able to offer the financing at 68% LTV with a 30-year amortization.
Located in Cape Coral, FL, Acorn Self Storage sold for $6.21 million. The sale was brokered by Michael Mele & Luke Elliott of Marcus & Millchap.