Marcus & Millichap Capital Corporation (MMCC) arranged $16.54 million in financing for the construction of Common Place Phase II, a 91-unit mixed-use multifamily property with a first-floor retail unit located within walking distance to Lambeau Stadium at 670 Mike McCarthy Way in Green Bay, Wisconsin.
Robert Bhat, senior managing director in MMCC’s Miami office, secured the financing at 80% loan-to-cost with a local bank on behalf of the client. The loan features a five-year term, with a 6.25% interest rate and no prepayment penalty.
The residential unit mix includes studios, one-bedroom, and two-bedroom units designed to complement the adjacent Phase I development and capture continued rental demand in the submarket. The Common Place is a five-story mixed-use building on a former industrial site in the Village of Ashwaubenon’s Sports & Entertainment District. Construction commenced in June on the development.
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