MMCC Arranges $3.2M in Acquisition Financing for The Grove Apartments in Marianna, Florida

MARIANNA, FLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $3.2 million in acquisition financing for The Grove Apartments, a 44-unit multifamily community located in the heart of the Florida Panhandle in Marianna, approximately 65 miles west of Tallahassee. Garrett Fierstein of MMCC secured the five-year loan through a local credit union. The loan carries a 6.12 percent fixed interest rate, 30-year amortization period and a 70 percent loan-to-value ratio. Situated near Chipola College