LOS ANGELES-Marcus & Millichap Capital Corporation has arranged debt on two properties for two different clients totaling $12,835,000, according to William Hughes, senior vice president and managing director of MMCC. One is a bridge loan refinance to accommodate the entitlement of two vacant city blocks and four adjacent parcels in downtown Los Angeles for a substantial development. The other is the refinance of 14 units of a 15-unit condominium community in Studio City, CA.
Dan Litman, vice president capital markets in MMCC's West Los Angeles office, arranged both loans.
“Dan demonstrated both initiative and deep market knowledge in closing these loans,” comments Hughes. “His ability to complete these two vastly different transactions is a testament to his skills as an originator and to the power of the Marcus & Millichap platform.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
