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Marcus & Millichap arrange $5.3M in debt financing

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Commercial real estate firm Marcus & Millichap, with an office in Elmwood Park, announced Friday it has arranged $5.3 million of debt for two properties.

According to the announcement, the two properties consisted of an 16,019-square-foot medical office in Voorhees and an 8,992-square-foot property in the Bronx, N.Y.

Christopher Marks, an originator in MMCC's Manhattan office arranged both loans. Russ Wachtler and Glen Kunofsky, also in the Manhattan office, represented the borrower of the medical office acquisition. The medical office closed with a seven-year fixed loan that amortizes of 25 years at 4.5 percent with a 72 percent loan-to-value, the announcement said.

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Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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