Lowell, MA Fantini & Gorga arranged $2.525 in permanent financing for Sutton Place, a 60-unit multifamily property. Casimir Groblewski, senior managing director, and Lindsay Feig, assistant vice president, arranged the financing with one of Fantini & Gorga’s correspondent lenders, a major life insurance company.

 

 

 “We were pleased to bring in a lender with a strong understanding of this property type,” said Groblewski. “The lender agreed to a twenty-year loan term and offered an attractive rate and non-recourse financing. Our client was very pleased to secure such a favorable deal for this attractive family-owned and managed asset.”  

Sutton Place consists of a five-building, interconnected residential complex on Middlesex St. in the Upper Highlands neighborhood of the city. The property benefits from visibility and accessibility and is located in a well populated section of the city near the North Chelmsford town line. Shopping and other services are located within a half mile of the property. Because of careful management and upkeep Sutton Place maintains high occupancy levels and a low turnover rate.

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.