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n the heart of Wakefield, Massachusetts, a savvy investment opportunity emerged at 27 & 36 Water Street. Marcus & Millichap Capital Corporation seized this chance to secure $13,566,000 in refinancing for The Lofts, a revitalized mixed-use property.

    This dynamic project boasts two buildings, housing 46 multifamily units and 13,000 square feet of retail/office space. Robert Bhat, senior managing director at MMCC's Miami office, leveraged his expertise to negotiate a favorable deal with an agency lender on behalf of a private client.

    The result was a non-recourse five-year term loan with two years of interest-only payments, boasting an attractive 5.86% interest rate and a generous 65% loan-to-value ratio. This strategic refinancing allowed the client to capitalize on their investment by paying off a maturing loan and unlocking new opportunities for growth.