Leicester, MA Marcus & Millichap Capital Corp. (MMCC) has arranged a $6.945 million refinancing loan for a 78-unit multifamily property located at 500 Stafford St. Robert Damigella of MMCC arranged the 10-year loan, which features a fixed interest rate of 3.99% and a 30-year amortization schedule.
Damigella said, “This financing had some challenging aspects that required serious attention to detail and working closely with the lender in order to secure funding. In the end, the deal closed without any issues and the client was pleased with the outcome.”
MMCC has also arranged a $7.988 million refinancing loan for Rama Plaza in Norwood, Mass. Damigella arranged the 25-year loan, which features a fixed interest rate of 3.75% and a 25-year amortization schedule.
Damigella said, “It was a pleasure to structure and arrange the financing for this landmark property in the center of Norwood, Mass. The financing required a customized structure that satisfied the needs of all parties in the transaction including both the seller and the buyer. This creative structuring helped in effectuating the transaction which otherwise may not have closed.”