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Boston & New England  + Metro Boston  + Apartments  |  August 18, 2021
David Cohen
By: David Cohen

MMCC Arranges $5M Refinancing for Revere Apartments

Marcus & Millichap Capital Corp. (MMCC) has arranged a $5 million loan to refinance a 30-unit apartment property in Revere, MASS. The borrower was not disclosed. Located at 30 Park Ave., the property is in Revere, a northeastern suburb of Boston.

Robert Damigella of MMCC secured the financing, which carried a 20-year term and a fixed interest rate on a 30-year amortization schedule. The direct lender was not disclosed.

“The borrowers had a complex capital stack and ownership structure  requiring that I source specific lenders comfortable with the new ownership arrangement and borrowers,” said Damigella. “Once I sourced a lender who was comfortable with this unique arrangement and restructured the financing, the transaction was completed painlessly.”

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Inside The Story

MMCC’s Damigella

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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