Marcus & Millichap Capital Corp., a commercial real estate financing company, has arranged $34 million in financing for North Side Yard, a new multifamily development property in Stevens Point.
North Side Yard, located at 1020-1060 Centerpoint Drive in downtown Stevens Point, is a 213-unit multifamily property with ground-floor commercial space.
Located near the Wisconsin River, it is a three-building complex with luxury apartments above ground-floor retail and office suites.
The property offers studio, one-bedroom and two-bedroom apartments.
Robert Bhat, senior managing director in Marcus & Millichap Capital Corp’s Miami office, said in a press release that the development offers institutional-quality housing in an established central Wisconsin market with multiple sources of rental demand.
“The property benefits from a stable and diversified regional economy supported by major employers,” Bhat said. “Our focus was on structuring financing that balances long-term certainty with near-term flexibility.”
