Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $18,650,000 in financing for three multifamily properties located in Worcester, Framingham and Waltham, Massachusetts.
The first loan, for Heywood Apartments in Worcester, features a fully amortizing 30-year term loan with a 6.5% interest rate and 70% loan-to-value. Heywood Apartments consists of 31 two-bedroom units.
Eames Apartments, located in Framingham, features a fully amortizing 30-year term loan with a 6.5% interest rate. Eames Apartments consists of 36 two-bedroom units.
Summer Street Apartments in Waltham, features a 10-year term loan with a 6.5% interest rate and a 30-year amortization period, and a 65% loan-to-value. Summer Street Apartments features a mix of 29 studio to two-bedroom units.
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2023, MMCC closed 1,076 transactions totaling $6.73 billion.
Marcus & Millichap, Inc. (NYSE: MMI) is a leading national brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of December 31, 2023, the Company had 1,783 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory services to our clients. Marcus & Millichap closed 7,546 transactions in 2023, with a sales volume of approximately $43.6 billion.
