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

Property Image
FINANCED
$3,400,000

Massachusetts

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MultiFamily
Financed 01/31/2025
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Property Image
FINANCED

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

891 Massachusetts Avenue

See Similar Deals
MultiFamily
Financed 01/31/2025
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Loan

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.

Players

Robert Damigella
Marcus & Millichap
Robert Damigella
13 deals$103.3M volume
BROKER

Details

FINANCED
IMAGE: Robert Damigella DATE: 01/31/2025 ADDRESS: 891 Massachusetts Avenue MARKET: Cambridge, MA ASSET TYPE: MultiFamily ~ UNITS: 16 BROKER: Robert Damigella (@RobertDamigella) - Marcus & Millichap (@MarcusMillichapInc) LOAN AMOUNT: $3,400,000 NOTE: Marcus & Millichap Capital Corporation (MMCC) secured $3.4 million in refinancing for a 16-unit multifamily property at 891 Massachusetts Avenue in Cambridge, MA. The 15-year loan, arranged through a local credit union, carries a 7.125% interest rate, 65% LTV, and 25-year amortization.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,400,000.00

Monthly NOI$22,666.67
Monthly Debt Service$21,490.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00