Robert Damigella Of Marcus & Millichap Secures $18.65M Loan For Multifamily Properties In Massachusetts

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.