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Fri, Sep 17
A Compendium of Property & Capital News
Sep 17
A Compendium of Property & Capital News

Marcus & Millichap Capital Corp Arranges $5 Million Refi for 30-unit Revere Multifamily

August 10, 2021
30 Park Ave., Revere MA

REVERE — Marcus & Millichap Capital Corporation (MMCC) has arranged a loan of $5,000,000 for a 30-unit multifamily property in Revere, MA. The property is located at 30 Park Ave.

Robert Damigella, Senior Director Capital Markets of MMCC arranged the 20-year loan. The loan features a fixed interest rate of 3.26% and a 30-year amortization schedule. Damigella said the unique loan was secured with an experienced lender.

“The borrowers had a complex capital stack and ownership structure requiring that I source specific lenders comfortable with the new ownership arrangement and borrowers,” he confirmed. “Once I sourced a lender who was comfortable with this unique arrangement and restructured the financing, the transaction was completed painlessly.”

Robert Damigella