Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $3.4 million for the refinancing of a 16-unit multifamily property located at 891 Massachusetts Avenue in Cambridge, Massachusetts.
Robert Damigella, managing director in MMCC’s Boston office, secured the financing with a local credit union on behalf of a private client.
Terms of the 15-year, full-recourse loan include a 7.125% interest rate with 25-years amortization and a loan-to-value of 65%.
The property is located less than one mile from Massachusetts Institute of Technology and features a mix of one- and two-bedroom units.
