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February 2, 2023

M&M loans over $4M for Yakima units

Marcus & Millichap Capital said it recently arranged a $4.1 million bridge loan for the unnamed buyer of the Powerhouse Villas duplex portfolio in Yakima. The five-year-old complex has 24 units. M&M's Tammy Linden secured the funding, and its Zachary Howe brokered the deal from three separate sellers. (The aggregate purchase price wasn't disclosed.) Linden said in a statement, “The bridge financing we arranged provides them time to reposition the asset.” The note comes with a 10% interest rate, with a 12-month period of interest-only payments.

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