Fantini & Gorga has arranged $11 million in first mortgage financing on River Village Apartments, a 56 unit apartment property.
"We were delighted to be able to deliver this attractively priced loan for this high-quality asset," said George Fantini, president of Fantini & Gorga, who placed the financing along with Tim O'Donnell, principal, and Derek Coulombe, director. "We had interest from a whole range of lenders who were impressed by the strong market position of this property, which provides a level of luxury and tenant appeal unmatched by any asset in its market."
River Village is a class A 56 unit apartment community located near rail and highway transportation, as well as retail, restaurants, golf courses and other amenities. The tenants enjoy large one and two-bedroom units. The property has 110 underground garage parking spaces with direct elevator access to the residential floors. Common areas including a great room for entertaining, a fitness center, a business center, a massage/relaxation room, and a common patio with a gazebo and fire pit.
The financing was provided by a major regional 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.