Two Central Mass. apartments receive financing as part of $18.7M deal

Two multi-family properties in Central Massachusetts have received loans as part of a wider three-property announcement of financing worth a total of $18.65 million.

Heywood Apartments in Worcester and Eames Apartments in Framingham received the financing from California-based Marcus & Millichap Capital Corp., according to a Wednesday press release from MMCC.

Located at 21 Heywood St., Heywood Apartments received a 30-year term loan with a 6.5% interest rate. Consisting of 31 two-bedroom units in a building built in 1964, the property is owned by the St. Lukes Realty Trust of Northborough, according to City of Worcester property records.

Eames Apartments, located at 66 Pratt St., received a 30-year term loan with a 6.5% interest rate. Built around 1970, Eames Apartments consists of 36 two-bedroom units and is owned by Pratt Street Apartments LLC of Northborough, according to City of Framingham property records. 

The third property involved in the announcement was Summer Street Apartments in Waltham, a 29-unit apartment building.

Robert Damigella, managing director in MMCC’s Boston office, secured the financing on behalf of the property owners. The exact value of each financing deal was not disclosed. 

Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.