CEDAR PARK, Texas, November 07, 2024--(BUSINESS WIRE)--IPA Capital Markets, a division of Marcus & Millichap (NYSE:MMI), specializing in capital markets services for major private and institutional clients has secured a $63 million loan for the refinance of Muir Lake Apartments, located on Avery Ranch Boulevard in the Austin suburb of Cedar Park, Texas. Built in 2014, the property features 332 garden-style units spread across 46 acres.
The New York-based IPA Capital Markets team of Marko Kazanjian, Max Herzog, Andrew Cohen, and Max Hulsh secured the financing with LoanCore Capital.
"Our team successfully secured a refinancing for our client in a challenging market, allowing them further duration to execute their business plan," said Kazanjian. "We are both happy and fortunate to close another deal with the LoanCore team. They quickly grasped the high potential of this opportunity. The asset has an excellent location on a lake adjacent to McCann Park and Lakeline Park."
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 national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion. For additional information, please visit www.MarcusMillichap.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241107903322/en/
Contacts
Gina Relva, VP of Public Relations
gina.relva@marcusmillichap.com
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