Marcus & Millichap has secured an $11.5 million construction loan for a Vista townhome project.
The Santa Fe Townhomes project is comprised of 45 townhomes.
The borrower is KSB Development.
The loan was structured with an adjustable interest rate of prime plus 0.5%, interest only.
Chad O’Connor, senior managing director of capital markets in Marcus & Millichap’s San Diego office, arranged the financing.