Marcus & Millichap Capital Corp. has arranged a loan of more than $7.7 million for the purchase of an Imperial Beach apartment complex.
The loan was to acquire Beach Colony Apartments, 2005 Avenida Del Mexico.
The borrower was not disclosed.
The loan was for 10 years of interest-only payments at about 3.8%.
Chad O’Connor, senior managing director of Marcus & Millichap in San Diego, and Patrick Agnew, associate director of capital markets for Marcus & Millichap in San Diego arranged the loan.