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Boston & New England  + Metro Boston  + Finance  | 

MMCC Arranges $13.6M Refi for Wakefield Mixed-Use

Marcus & Millichap Capital Corporation (MMCC) arranged $13,566,000 for the refinancing of the Lofts at 27 Water St. Located at 27 & 36 Water St. in Wakefield, MA, the project is comprised of two buildings that include 46 multifamily units and 13,000 square feet of retail/office space. 

Robert Bhat, senior managing director in MMCC’s Miami office, secured the financing with an agency lender on behalf of a private client.

“This newly renovated mixed-use property maintains a high occupancy and has excellent management,” said Bhat. “We secured a non-recourse five-year term loan with two years of interest only with an interest rate of 5.86% and a 65% loan to value. The cash-out refinance was used to pay off a maturing loan.”

Read More News Stories About: Marcus & Millichap
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MMCC's Bhat

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).