Fantini & Gorga has arranged a $13.5 million financing for Daejan Holdings PLC, on 200 Portland St. in downtown. The transaction involved the refinancing of a 97,000 s/f multi-tenanted office building with ground floor retail.
"Our lender, Commerce Bank, worked extremely hard with us to provide very attractive pricing and flexibility with potential upcoming tenant and capital improvements on a non-recourse basis. There was a lot of interest in this transaction from lenders, but we were delighted with Commerce's attentiveness and ability to structure the transaction appropriately for such a strong sponsor on an asset located in such a dynamic and growing part of the city," said Joseph Eddy, managing director, who placed the loan along with John Gorga, president of Fantini & Gorga.
200 Portland St. is located in the Bulfinch Triangle area, across the street from the Tip O'Neill Federal Building and the TD Garden. However, the asset may be its own destination since one of its retail tenants, the Harp, is a longstanding and well-known area sports bar.
Fantini & Gorga is one of New England's leading mortgage banking firms. Fantini & Gorga specializes in assisting its clients in arranging traditional debt, mezzanine, and equity financing for all commercial property types.