Fantini & Gorga arranges $8 million financing for Mansfield Marketplace

Fantini & Gorga recently placed $8 million of construction and permanent financing for Mansfield Marketplace with a regionally based bank. The 23,840 s/f retail center, which is being developed by Hecht Development, is located off Rte. 140. It will consist of two free standing buildings with tenants such as AT&T, Sleepy's and Chipotle Restaurant. "The strength of the sponsor, pre-leasing, and the location allowed us to place financing for this project," said John Gorga, president and principal of Fantini & Gorga, who originated and placed the loan along with Joe Eddy, managing director. Ken Hecht said, "Even in this difficult environment, the leasing demand continues to be strong because of the project's outstanding and sought after location." Mansfield Marketplace, which is adjacent to the Cabot Business Park, still has a few thousand s/f available. The 6.25-acre assemblage of properties is located directly across School St. from the 380,000 s/f Mansfield Crossing project. Tenants at this center include L.L. Bean, Kohl's, Best Buy, Borders, Sports Authority, Michaels, PETCO, T.G.I. Friday's, Bertucci's, and Starbucks. Fantini & Gorga is a real estate investment banking firm that places the full range of debt and equity for its clients. An affiliate of Boston-based Eastern Bank, a $7 billion full service banking company, the firm's senior professionals have structured and placed over $8 billion in more than 1,000 transactions.