Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has announced the closing of 275 Newport Avenue, in Rumford, Rhode Island, according to John Krueger, Vice President and Regional Manager of the firm’s New Haven office. The loan amount was $915,000.

The loan was arranged by Robert Noeldechen, of the firm’s New Haven office. The asset, a NNN-leased Citizens Bank location, was sold in a 1031 transaction. Regarding the acquisition, Noeldechen said, “1031 trades for triple-net properties remain popular and in-demand. The yield and return on the investment was very favorable for the borrower.

“We were able to find a lender and close in a challenging time, with fantastic terms for our client.”

About Marcus & Millichap Capital Corporation

Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. Through its network of national, regional and local lenders, MMCC provides capital markets products for a wide variety of investment properties, including apartments, shopping centers, office buildings, industrial facilities, single-tenant net-lease properties, seniors housing, hotels/motels, manufactured home communities and self-storage facilities. In 2019, MMCC closed over 1,900 commercial real estate financing transactions totaling $7.1 billion. To learn more, please visit: www.mmCapCorp.com.