Marcus & Millichap Secures $107M Financing for Ontario Multifamily Development Project

Marcus & Millichap Capital Corporation Secures Financing for Multifamily Development

Marcus & Millichap Capital Corporation (MMCC) successfully arranges $107 million in financing for a significant multifamily project in Ontario, California, named Adept Ontario. This development, located at 4117 E Concours Street, will consist of 384 residential units accompanied by 26,000 square feet of retail space. Its strategic positioning near the Toyota Arena underscores the project's potential to tap into the growing market of the Inland Empire. Senior director Stefen Chraghchian, who operates from MMCC’s Encino office, plays a pivotal role in securing this financing. Collaborating with Affinius Capital and Bank OZK, he represents Adept Urban Development and works to navigate the complexities of the current lending landscape.

Chraghchian emphasizes the importance of trust between MMCC and Adept Urban Development, especially when it comes to obtaining competitive financing terms in a challenging environment. He highlights that Adept Ontario is not merely a standalone project; it is the first phase of a larger, master-planned community designed to accommodate Southern California's burgeoning population and job market. This initiative aims to introduce a diverse range of unit types and amenities that address the current shortages in the Inland Empire, positioning itself as a transformative force in the local real estate landscape.

With a robust track record, MMCC demonstrates its capabilities in delivering effective financing solutions for commercial real estate projects. In 2023 alone, the company closes 1,076 transactions worth approximately $6.73 billion, reflecting its strong presence in the sector. As a subsidiary of Marcus & Millichap, Inc., which completed 7,546 transactions totaling around $43.6 billion in the same year, MMCC reinforces its role as a key player in the commercial real estate financing arena.

In addition to its financing activities, MMCC continues to enhance its market presence through strategic partnerships and innovative project financing approaches. The company’s efforts not only support individual developments like Adept Ontario but also contribute to broader efforts in addressing housing shortages and stimulating economic growth in regions like Southern California. The successful arrangement of financing for this multifamily development exemplifies MMCC's commitment to shaping the future of commercial real estate in the region.

As the real estate market evolves, MMCC remains a vital resource for developers seeking to navigate the complexities of financing. The company's ability to secure substantial funding in a competitive landscape reaffirms its reputation and positions it well for future growth and collaboration in the multifamily sector.