Marcus & Millichap Capital Corporation (MMCC) arranged $5.7 million in financing for a 48,954-square-foot office property located at 9221 Corbin Ave. in the Northridge neighborhood of Los Angeles. Dean Giannakopoulos, senior managing director in MMCC’s Chicago office, secured the three-year loan at 65% loan-to-value through a regional bank on behalf of a private client. Additional terms include a 6% interest rate and a 25-year amortization schedule.
“This financing reflects continued lender interest in well-located Los Angeles office assets with stable tenancy and strong surrounding demand drivers,” said Giannakopoulos. “By securing competitive leverage and a fixed-rate structure through a bank, we were able to provide our client with a reliable capital solution aligned with the property’s long-term ownership strategy.”
The property is located near California State University, Northridge and is occupied by a diverse mix of tenants, including a tutoring service, internet service provider, computer repair service, consultants, real estate agents and accountants.
