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Image Credit Cocoa Lofts
Marcus & Millichap Capital Corporation (MMCC) has arranged $7,764,750 in financing for Cocoa Lofts, an extended-stay hospitality property located at 900 Friday Road in Cocoa, Florida. The financing was secured through a local credit union on behalf of a private client.
The loan for the 154-unit property includes a 10-year term at an interest rate of 7.25%. It features a 25-year amortization period and a loan-to-value ratio of 60%. Cocoa Lofts provides amenities such as a pool, fitness center, BBQ area, and on-site laundry facilities.
The financing deal was facilitated by Garrett Fierstein, a senior director at MMCC’s Orlando office. The arrangement aims to provide long-term financial stability for Cocoa Lofts while leveraging the property’s affordability and amenities.
The transaction reflects current market conditions and the demand for extended-stay accommodations in the region. The financing structure is intended to support the property’s operational and financial objectives over the coming decade.
Image Credit Cocoa Lofts
Marcus & Millichap Capital Corporation (MMCC) has arranged $7,764,750 in financing for Cocoa Lofts, an extended-stay hospitality property located at 900 Friday Road in Cocoa, Florida. The financing was secured through a local credit union on behalf of a private client.
The loan for the 154-unit property includes a 10-year term at an interest rate of 7.25%. It features a 25-year amortization period and a loan-to-value ratio of 60%. Cocoa Lofts provides amenities such as a pool, fitness center, BBQ area, and on-site laundry facilities.
The financing deal was facilitated by Garrett Fierstein, a senior director at MMCC’s Orlando office. The arrangement aims to provide long-term financial stability for Cocoa Lofts while leveraging the property’s affordability and amenities.
The transaction reflects current market conditions and the demand for extended-stay accommodations in the region. The financing structure is intended to support the property’s operational and financial objectives over the coming decade.
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
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