Coulombe of Fantini & Gorga arranges $23m loan for Brooks Street Commons

Worcester, MA Fantini & Gorga has completed the placement of a $23 million construction loan for the Brooks Street Commons, a to-be-built 111-unit multifamily property on the north side of the city.

Derek Coulombe, senior managing director at Fantini & Gorga structured and placed the financing with a regional bank on behalf of the sponsor.

“We are very happy to be able to match this entrepreneurial client with a flexible yet experienced lender.” Coulombe said, “It will be exciting to see this class A multifamily project come to life.”

The to-be-built property will be known as the Brooks Street Commons.  The developer and builder, GoVenture Capital Group, LLC (GVC), plans to add this asset to their portfolio. Brendan Gove, president of GVC, said, “The property will be a mix of studios, one and two-bedroom units all well-appointed with luxury finishes including granite countertops, stainless steel appliances, hardwood cabinetry and in-unit washers and dryers.”

The building will include garage parking and ample surface parking and even though the new apartment property will be located only six miles from downtown Worcester, the unique positioning away from the road and towards the wood will afford the future tenants a very calm and relaxing experience. “We’re thankful to have such capable partners and are equally as excited to be part of the revitalization movement in Worcester” Gove said.