Midway & Pop Lofts, two adjacent multifamily properties in Cranston, Rhode Island., has landed $9.1 million refinancing.
The loan terms comprise a five-year duration, a 6.35% interest rate, a 65% loan-to-value ratio, and a 30-year amortization schedule. Midway & Pop Lofts offer a combined 49 residential units and are situated at 125 Midway Road and 45 Poplar Drive.
Robert Damigella of Marcus & Millichap Capital Corporation’s Boston office secured the financing.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.