Warwick, RI Fantini & Gorga has completed the placement of a $21 million first mortgage to refinance 160,000 s/f of office condominium space at The Summit, Jefferson Gateway, and Metro East Office Parks.
“We were delighted to deliver attractive permanent financing from a regional financial institution who demonstrated a strong understanding of the market as well as the borrower’s asset management objectives,” said Jason Cunnane, senior director at Fantini & Gorga, who together with Tim O’Donnell, principal, arranged the financing. “The combination of an experienced real estate developer/operator, best in class stabilized office assets, excellent locations and a knowledgeable lender resulted in a smooth execution.”
The three office parks are located within a mile of each other on 300 Centerville Rd., 931 & 935 Jefferson Blvd., and 117 Metro Center Blvd. Each office park is off I-95 close to TF Green International Airport.
The Summit, Jefferson Gateway and Metro East are fully occupied, class A three or four-story buildings featuring parking, landscaped grounds and floor plans that provide flexibility for the national, regional and local professional office users.
Fantini & Gorga is one of New England’s leading mortgage banking firms. Headquartered in Boston, Fantini & Gorga specializes in assisting its clients in arranging traditional debt, mezzanine, and equity financing for all commercial property types throughout the United States. Fantini & Gorga combines deep regional roots, broad experience, market knowledge, and national/international reach in access to capital.