Fantini & Gorga (www.fantinigorga.com)recently arranged $27.5 million in permanent first mortgage financing for the Cowesett Hills Apartment community.
John Gorga, president, and Jason Cunnane, analyst, placed the financing with one of their national insurance company relationships on behalf of Cowesett Hills Apartments, LLC, an affiliate of The Picerne Real Estate Group, a Rhode Island-based real estate developer and investor with multifamily holdings throughout the country. The 456-unit multifamily property is located at 3595 Post Rd. and is situated on 68 acres of land.
Cunnane said, "The well-positioned property has been very consistent over the past several years with excellent occupancy and operating performance. The interest among lenders for this aggressive yet attractive financing opportunity was especially competitive."
Gorga said, "The winning lender recognized the high quality of this asset as well as the property's excellent sponsorship and management. We are very pleased to have delivered an attractive financing package consistent with our client's long-term objective."
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.