Updated Jun 12, 2025
Robert Damigella Of Marcus & Millichap Secures $18.65M Loan For Multifamily Properties In Massachusetts
21 Heywood Street
$18,750,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 11, 2025
About this deal
AI
The asset involved in this transaction is a multifamily property located at 21 Heywood Street in Worcester, MA. The total loan amount for this property is $18,750,000, which is part of a broader financing arrangement involving multiple properties in the region. The loans for Heywood and Eames Apartments feature 30-year fully amortizing terms at an interest rate of 6.5%. Additionally, Summer Street Apartments is financed with a 10-year term and 30-year amortization.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $18,750,000
- Market: Worcester, MA
- Broker: Robert Damigella - Marcus & Millichap
Robert Damigella, representing Marcus & Millichap Capital Corporation, was instrumental in arranging this financing, which totals $18.65 million across three multifamily properties situated in Worcester, Framingham, and Waltham, Massachusetts. The strategic financing aims to facilitate the operations and investor returns for these multifamily assets.
On the Map
$18,750,000
MultiFamily
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Players
Worcester MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.85%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93