Cambridge Massachusetts, Doug Nickerson, Nickerson Financial Corporation, Mashpee Massachusetts is pleased to announce the placement of a loan in the amount of $1,900,000 on a twenty unit apartment building on behalf the owners, 1691 Nominee Realty Trust.

  The property was constructed in 1969 and is managed by the client. The property consists of 16 one bedroom units and four studios.  The building is serviced by one elevator and there are twenty partially covered parking spaces. The property is well managed and maintained and in excellent condition. The location is most advantageous to the residents.                                                   

Doug Nickerson stated,” We were pleased to have had the opportunity to introduce our client to a lender who offers an aggressively priced, low cost, streamlined, alternative for financing stabilized multifamily properties.”

The rate on the $1,900,000 loan is 5.66%, fixed for ten years amortized over 30 and is non-recourse.