 (1).gif)
News:
Finance
Posted: June 9, 2023
Fantini & Gorga arranges $5 million in financing for
multifamily property in the Allston neighborhood
Boston, MA Fantini & Gorga arranged a $5 million first mortgage for a multifamily property in the Allston neighborhood. The non-recourse loan was placed with a local bank on behalf of the sponsor, Glen One LLC, a Boston based full-service real estate investment company.
“We were pleased to secure a loan package that met our client’s specific terms and conditions. In addition to equity recapture, the low fixed-rate and interest only period will result in strong net cash flow,” said F&G president John Gorga.
The 28-unit property located in close proximity to public transit, the Mass Pike, Storrow Dr. and other major thoroughfares has a historically maintained high occupancy. The lender recognized the level of commitment the sponsor has to the asset and provided terms that were consistent with its strong occupancy history and premier location.
Tags:
Finance
MORE FROM Finance
Kozlowski of Newmark Capital Markets secures $115.6 million financing for two properties in CT
East Lyme, CT Newmark has arranged $115.6 million in financing on behalf of the sponsor to refinance The Cove at Gateway Commons and Sound at Gateway Commons. Newmark Capital Markets Strategies managing director Avi Kozlowski secured the financing through Freddie Mac.
 (1).gif)
Quick Hits
Columns and Thought Leadership
Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
Are appraisers on the same page as the assessor? - by Richard Seman
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
