Fantini & Gorga has arranged a $1.25 million financing of a 33,000 s/f multi-tenant office building.
The transaction represents a refinance of the borrower's existing debt, which had been in place since acquisition 10 years ago. The subject property is located on Rte. 110 in close proximity to I-93.
Wayne Clough, managing director, and Mark Whelan, director, arranged the financing with StanCorp Mortgage Investors, LLC, with whom Fantini & Gorga has a correspondent relationship. StanCorp is the commercial real estate lending arm of The Standard, an Oregon-based life insurance company.
"We are pleased that our lending partner was able to assist this well qualified, long-term client obtain non-recourse debt with favorable terms in a turbulent office environment," said Clough.
Fantini & Gorga (www.fantinigorga.com) 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. An affiliate of Eastern Bank, Fantini & Gorga combines deep regional roots, broad experience, market knowledge, and national/international reach in access to capital.