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Marcus & Millichap Arranges $8.3M Refinancing for Brookside Commerce in Georgia

COMMERCE, Ga. — Marcus & Millichap Capital Corp. (MMCC) has arranged an $8.3 million loan for the refinancing of Brookside Commerce, an assisted living facility in Commerce, approximately 70 miles northwest of Atlanta.

The 62-bed community includes 12 independent living units. It is 3.5 miles from Northridge Medical Center, a full-service community hospital.

Robert Bhat, based out of the MMCC Miami office, led the transaction.

“Brookside Commerce was acquired in September 2019,” says Bhat. “We were able to secure a 35-year HUD loan to refinance the asset and provide cash out to the borrower. Terms include a 35-year, fully amortizing loan and an interest rate of 5.1 percent.”

The post Marcus & Millichap Arranges $8.3M Refinancing for Brookside Commerce in Georgia appeared first on Seniors Housing Business.

Source: Senior Housing Business

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