Fantini & Gorga recently arranged $18.7 million in permanent financing on a 330,000 s/f class A 20-story office building in downtown known as Brady Sullivan Plaza and $9.2 million in permanent financing on an 82-unit multi-family property on the west side of the city known as Mill West II. Both loans were placed with regional financial institutions on behalf of a long-term client of the firm.
"We were very pleased to identify two portfolio lenders that provided attractive terms, including a sub-3% fixed rate for a 5-year term for the office building and a fixed rate in the low 3s for the multi-family property, which was still in lease-up," said Mark Whelan, managing director at Fantini & Gorga.
The office property has a commanding presence in the middle of downtown, as it includes a retail plaza and a 950 space parking structure.
The multi-family property is the second phase of a two building late 19th century mill complex that is on the National Register of Historic Places. The units in both phases were built to condominium quality standards and the complex boasts a full amenity package including fitness center, community room, game room, putting green, movie theatre and rooftop deck.
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.