MMCC, a division of Marcus & Millichap, successfully secured $5,414,500 in financing for the refinancing of a retail property in North Attleboro, MA. The property is currently occupied by CVS and is owned by an investment company based in the Northeast. Chris Marks and Steve Filippo from MMCC’s Manhattan office were able to secure this financing through a national bank.
Marks stated that they were able to secure below-market rates for their client who has worked with them before. He also mentioned that there continues to be high interest in well-located retail properties within the market.
The terms of this 10-year loan include a fixed interest rate of 5.29%, with 30 years amortization and a loan-to-value ratio of 65%. This successful refinancing was reported on Connect CRE’s website.
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