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November 17, 2011

Marcus & Millichap

Glenn Gioseffi of Marcus & Millichap in Seattle arranged a $7.1 million purchase loan for a 75-unit garden-style apartment property in Renton. He had to do it in 35 days because the property was scheduled to be auctioned by a lender. The state also held a second lien on the property. Marcus & Millichap got foreign tax and bank statements on behalf of the buyers. The nonrecourse loan is for 30 years with 30-year amortization, a fixed 4.65 percent interest rate and 75 percent loan-to-value.




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