Marcus & Millichap Capital Corporation Secures $3.4M Loan For 16-Unit Multifamily In Cambridge MA

A 16-unit multifamily property located at 891 Massachusetts Avenue in Cambridge, MA was the subject of this transaction. The asset received refinancing amounting to $3.4 million through a 15-year loan arranged via a local credit union, featuring a 7.125% interest rate, 65% loan-to-value ratio, and a 25-year amortization schedule.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $3,400,000
• Address: 891 Massachusetts Avenue
• Market: Cambridge, MA
• Units: 16
• Broker: Robert Damigella - Marcus & Millichap

Marcus & Millichap Capital Corporation (MMCC) played a key role in securing the refinancing for the multifamily property. The arrangement reflects a collaborative effort involving local financial entities to support the asset's capital structure.