MMCC Secures $5M Financing for Framingham Multifamily Property
Marcus & Millichap Capital Corporation (MMCC) has successfully arranged a $5.02 million acquisition financing for The Grant Street Complex, a multifamily property located in Framingham, Massachusetts. This complex features 26 units ranging from one to three bedrooms and is situated between Worcester and Boston.
The financing was secured by Robert Bhat at MMCC’s Miami office. According to Bhat, the property presents an excellent opportunity for value-add through rent increases to match current market rates. With the sponsor’s expertise and strong occupancy in the market, they were able to secure a five-year Freddie Mac SBL loan with 78% LTV and interest-only payments for the first 12 months.
This recent transaction highlights MMCC’s expertise in arranging competitive financing options for multifamily properties across various markets nationwide.
