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Marcus & Millichap Capital arranges $16.54M for Green Bay multifamily build

The loan was structured at an 80% loan-to-cost ratio with a five-year term, a 6.25% interest rate, and no prepayment penalty.

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Marcus & Millichap Capital Corporation arranged $16.54 million in financing for the construction of Common Place Phase II, a 91-unit mixed-use multifamily property in Green Bay, Wisconsin.

The development includes a first-floor retail unit at 670 Mike McCarthy Way, within walking distance of Lambeau Stadium, and is positioned to complement the adjacent Phase I project.

ConnectCRE says the financing was secured by senior managing director Robert Bhat in MMCC’s Miami office with a local bank on behalf of the client, at an 80% loan-to-cost ratio.

Construction for the five-story building began in June on a former industrial site in the Village of Ashwaubenon’s Sports and Entertainment District, with a five-year loan term and a 6.25% interest rate, and no prepayment penalty.

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