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Cambridge Massachusetts, Doug Nickerson, Nickerson Financial Corporation, Mashpee Massachusetts is pleased to announce the placement of a loan in the amount of $3,000,000 on the Harvard Street Apartments on behalf the owner 331-331A Harvard Street LLC.
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The property, managed
by the client, is a multi-family property consisting
of 26 units. The building was constructed in 1918
and the current owners have owned it for decades.
The unit mix, consists of spacious one and two
bedroom units. The owners, over the past two years
systematically renovated the units and have modified
some of the floor plans.
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The property is well
managed and maintained and in excellent condition.
The location is most advantageous to the residents,
with not only easy access to travel routes but to
retail and professional centers as well.
The rate on the
$3,000,000 loan is 5.05%, fixed for ten years
amortized over 30 and is non-recourse.
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