Marcus & Millichap Capital Corp. arranges $10.5 million financing for Framingham multifamily property

Framingham, MA Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $10.5 million in financing for the acquisition of Arlington Commons, a 54-unit multifamily property located at 77-79 Arlington St. 

Robert Damigella, managing director in MMCC’s Boston office, secured the financing with a local bank on behalf of a private client. The loan features a 5-year term at 75% loan-to-value with a 5.8% interest rate and 30-year amortization period.

“Arlington Commons presented our client with an opportunity to acquire a well-located, recently upgraded multifamily asset in the heart of downtown Framingham,” said Damigella. “We were pleased to secure competitive bank financing that supports the property’s strong fundamentals, stable cash flow, and long-term value.” 

The property was recently renovated and consists of two 27-unit buildings with a mix of studio to two-bedroom units, with on-site laundry facilities. It is located within walking distance of Framingham MBTA station.