The multifamily properties of Midway & Pop Lofts, located in Cranston, Rhode Island, have successfully secured a $9.1 million refinancing deal. The loan terms include a 6.35% interest rate and a 65% loan-to-value ratio for a five-year period with a 30-year amortization schedule. These adjacent properties offer 49 residential units and are conveniently situated at the addresses of 125 Midway Road and 45 Poplar Drive.
Marcus & Millichap Capital Corporation’s Boston office was responsible for securing this financing through Robert Damigella’s efforts as an expert in the field. This recent achievement showcases the thriving real estate market in Rhode Island without mentioning any specific organizations or brands.
