MMCC, a leading capital corporation, recently arranged financing in the amount of $5,093,000 for the purchase of a 22-unit multifamily property at 10 Centennial Pl. in Framingham, MA. The deal was secured by Robert Bhat from MMCC’s Miami office and funded by Ready Capital on behalf of a private client.
According to Bhat: “This acquisition involves a multifamily complex with 22 units situated in the rapidly growing market of Framingham, MA.” He also mentioned that their primary sponsor is an existing MMCC client who already owns multiple properties in the area. Through their efforts they were able to secure favorable terms including a non-recourse loan with an initial loan-to-value ratio of 77% and interest-only payments for the first three years.
The property is located within Framingham’s Historic Saxonville District and boasts one- to four-bedroom units as part of its diverse unit mix. This successful transaction highlights MMCC’s expertise in securing financing for clients looking to invest or expand their portfolio within this desirable location.
