Marcus & Millichap Arranges $6.8 Million Acquisition Financing for Retail Property in Panama City Beach, Florida

by Julia Sanders

Panama City Beach, Fla. — Marcus & Millichap Capital Corp. has arranged $6.8 million in acquisition financing for Villages of Grand Panama, a 48,000-square-foot retail property located at 1105 Hutchinson Blvd. in Panama City Beach. Garrett Fierstein of Marcus & Millichap secured the 10-year, fixed-rate loan, which features a 70 percent loan-to-value ratio and an interest rate of 3.95 percent. The 19-tenant property sits on 5.1 acres of land and is occupied by an array of tenants including medical, real estate and professional services uses, as well as two restaurants.

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