PROVIDENCE, RI Marcus & Millichap Capital Corp. (MMCC) arranged a $1.35 million refinancing loan for a nine-unit multifamily property. The building is located at 217 Angell St. in the College Hill neighborhood. Robert Damigella of MMCC arranged the 14-year loan, which features a fixed interest rate of 3.6% for seven years and a 30-year amortization schedule.
Damigella said, “Located on College Hill directly adjacent to Brown University, this beautiful antique was financed at very attractive rates. With our deep bench of lenders, multiple financing offers were provided despite Brown University suspending in-person classes due to the pandemic. The owner was pleased to obtain attractive financing terms during these uncertain times.”