Marcus & Millichap (MMI) unit IPA Capital Markets said late Thursday it arranged a $60.9 million refinancing for an oceanfront redevelopment project in Huntington Beach, California.
The company secured an 18-month, nonrecourse loan on behalf of a California-based investment and development firm.
IPA said the project is in predevelopment, with construction set to begin near the end of this year.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.