IPA Capital Markets, a division of Marcus & Millichap (NYSE: MMI), announced the $37 million refinancing of Dane Park, a luxury 392-unit multifamily property in Grapevine, Texas.
The terms of the five-year loan include 6.23% interest only and a spread of 1.68%. The property features a mix of one- and two-bedroom luxury units spread across two locations. The pet-friendly community includes several dog services including onsite daycare, grooming and concierge services.
Two members of IPA Capital Markets’ Los Angeles office, Executive Managing Director Brian Eisendrath and Senior Managing Director Cameron Chalfant, secured the financing with M&T RCC on behalf of a private investor.
;
