Fantini & Gorga has arranged $39.7 million in first mortgage financing for the Radisson Hotel Boston, a full-service hotel located at 200 Stuart St. in the city's Theater District.
"This loan opportunity generated strong interest from lenders because of the property's strong operating history, market position, and highly skilled sponsorship," said Tim O'Donnell, principal at Fantini & Gorga, who placed the loan with George Fantini, the firm's chairman. "Lenders understood that this is an irreplaceable asset. The result was an attractively priced, well-structured loan that met the borrower's requirements nicely."
The 23-story Radisson Hotel Boston includes 358 guestrooms, a 750-space parking garage, a variety of meeting and function spaces, a fitness center, and an indoor pool with adjacent outside patio overlooking the Boston skyline. The hotel features two restaurants, the Theater Café and the Rustic Kitchen, as well as a 480-seat cinema, the Stuart Street Playhouse, featuring independent films.
The Radisson Hotel Boston is managed by JPA Management, an affiliate of the property's original developer and long-term owner. The loan was provided by Citizens Bank.
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. An affiliate of Eastern Bank, Fantini & Gorga combines deep regional roots, broad experience, market knowledge, and national/international reach in access to capital.