Marcus & Millichap Capital Corporation (MMCC) arranged $5.2 million for the refinancing of Palmer Villas, a multifamily property located at 817 E Palmer Ave. in Glendale.
Dan Litman, senior managing director in MMCC’s Los Angeles office, secured the financing with a national bank on behalf of a private property management firm based in Los Angeles. Terms of the loan include a 30-year term with 30-years amortization and a 50% loan-to-value.
The property features 18 three-bedroom units and is located seven miles north of Downtown Los Angeles.