Marcus & Millichap Capital Corporation Arranges $34 Million Loan for 213-Unit Stevens Point Apartment Complex
STEVENS POINT, Wis. — Marcus & Millichap Capital Corporation (MMCC) arranged $34 million in financing for North Side Yard, a newly developed 213-unit multifamily property with ground-floor commercial space at 1020-1060 Centerpoint Drive in Stevens Point, Wisconsin, the firm announced Nov. 10, 2026.
Loan Terms for North Side Yard
Robert Bhat, senior managing director in MMCC's Miami office, secured the five-year, non-recourse loan from a national bank on behalf of a private client. The loan was placed at 75% loan-to-value and carries a 6.8% interest rate, with five years of interest-only payments.
At 75% loan-to-value, the financing implies a property value of approximately $45.3 million, or roughly $212,700 per apartment unit based on the 213-unit count. The loan works out to approximately $159,600 per unit. Assuming the stated rate applies to the full $34 million balance, annual interest-only debt service would be approximately $2.312 million. Because the loan is interest-only for its entire five-year term, the borrower will face a repayment or refinancing event at maturity.
Property Details
North Side Yard is a three-building complex located in downtown Stevens Point near the Wisconsin River. The property features apartments above ground-floor retail and office suites. Unit types include studio, one-bedroom and two-bedroom apartments with in-unit laundry. Community amenities include a gym, parking and bike storage.
Marcus & Millichap Commentary
"This development offers institutional-quality housing in an established Central Wisconsin market with multiple sources of rental demand," said Bhat. "The property benefits from a stable and diversified regional economy supported by major employers. Our focus was on structuring financing that balances long-term certainty with near-term flexibility. This solution gives our client a foundation for the property's next chapter."
Marcus & Millichap's Financing Platform
The assignment comes as Marcus & Millichap continues to operate an active financing business. The company reported $50.8 billion of total transaction volume across 8,818 transactions in 2025, including $11.9 billion of financing volume across 1,659 financing transactions. Financing generated approximately 14% of the company's 2025 revenue, while brokerage commissions accounted for about 84%. Total 2025 revenue was $755.2 million, up 8.5% from $696.1 million in 2024.
In the third quarter of 2026, Marcus & Millichap reported approximately $2.9 billion in financing volume across 423 transactions, compared with $2.868 billion in the year-earlier period. Year-to-date financing volume reached approximately $9.55 billion.
Market Implications
The transaction shows the role of debt financing for newly developed multifamily assets. Rather than selling the property, the private owner secured a five-year loan while retaining ownership and obtaining a full interest-only term. A 75% loan-to-value ratio is relatively high for a newly developed apartment asset, particularly with non-recourse terms.
About Marcus & Millichap
Marcus & Millichap, Inc. (NYSE: MMI) is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services, with offices throughout the United States and Canada. As of Dec. 31, 2025, the company had 1,808 investment sales and financing professionals in more than 80 offices.
Sources
Marcus & Millichap press release, Nov. 10, 2026: https://www.marcusmillichap.com/news-events/press/2026/11/marcus-millichap-capital-corporation-arranges-34-million-financing-for-wisconsin-multifamily-property